Dixon Tech Q2 Results: Higher other income aids profit, margin meets estimates

Dixon Technologies Ltd. reported results after market closing hours on Friday, October 17. The company's numbers were mostly higher on a year-on-year basis.

The company reported a net profit of ₹670 crore, compared to a net profit of ₹390 crore during the same quarter last year. The net profit was aided by a higher other income component of ₹496 crore, while the base quarter had a one-time gain of ₹210 crore. Dixon had no other income in the base quarter.

Revenue for the quarter increased by 28.8% from the same quarter last year to ₹14,855 crore from ₹11,534 crore. The number is higher than the CNBC-TV18 poll estimate of ₹14,434 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased by 31.4% from last year to ₹561.2 crore, in-line with the CNBC-TV18 poll estimate of ₹547 crore, while EBITDA margins for the quarter expanded by 10 basis points to 3.8% from 3.7%. The CNBC-TV18 poll had also projected a figure of 3.8%.

Shares of Dixon Technologies ended 1.1% lower on Friday before the earnings announcement at ₹16,660. The stock is down 8% in the last one month.