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Informist, Tuesday, Jul. 22, 2025

By Shakshi Jain and Arya S. Biju

NEW DELHI/MUMBAI – Dixon Technologies (India) Ltd. Tuesday posted a robust year-on-year growth in its consolidated top line and bottom line for the June quarter, as revenue from its mobile and electronic manufacturing services segment more than doubled on year in the quarter. It was, however, the company's lowest year-on-year net profit and revenue growth in five quarters. 

The company's consolidated net profit in the June quarter rose over 68% year-on-year to INR 2.25 billion, largely in line with the INR 2.22 billion expected by analysts. Sequentially, the bottom line declined nearly 44% due to a high base effect. For the March quarter, Dixon Technologies had reported a more than four-fold on-year rise in its consolidated net profit to INR 4.01 billion, aided by a one-time gain of INR 2.5 billion. 

The company's consolidated revenue in the reporting quarter rose 95% on year and nearly 25% sequentially to INR 128.36 billion, beating analysts' estimates. Analysts had expected the company to post a top line of INR 120.56 billion for the quarter. 

The company's total expenses for the quarter nearly doubled on year to INR 124.79 billion, boosted by a 92% on-year rise in raw material costs to INR 122.88 billion. Sequentially, the total expense rose 25%. Raw material costs accounted for about 98% of the company's total expenses and 92.5% of operating revenue during the latest quarter. The company's employee benefits expense for the quarter rose nearly 41% on year to INR 1.69 billion and other expenses rose nearly 59% on year to INR 3.1 billion. The company reported changes in inventories of INR 4.13 billion, up from INR 3.81 billion in the same period last year. 

The company's consolidated earnings before interest, taxes, depreciation, and amortisation for the latest quarter rose 89% on year to INR 4.84 billion, beating analysts' estimate of INR 4.52 billion by a decent margin. Its consolidated EBITDA margin for the quarter contracted 10 basis points on year to 3.8%. 

Revenue from the company's mobile and other electronics manufacturing services segment more than doubled on year to INR 116.63 billion. The segment's operating profit for the quarter was INR 3.95 billion, more than double the INR 1.71 billion reported in the same quarter last year. Revenue from the segment accounted for 91% of the company's total sales, up from 79% in the same quarter last year. 

The company's consumer electronics and appliances segment sales declined 21% on year to INR 6.72 billion while the operating profit of the segment grew 38% on year to INR 400 million. Revenue contribution from the segment declined to 5% of total sales from 13% a year ago.

Revenue from its home appliances segment rose 3% on year to INR 3.13 billion and the operating profit of the segment rose 13% on year to INR 360 million. Revenue from the lighting products segment fell 17% on year to INR 1.88 billion. The operating profit of the segment fell 27% on year to INR 110 million. 

Tuesday, shares of the company closed over 1% lower at INR 16,112 on the National Stock Exchange. The company announced its June quarter earnings after market hours.   End

Edited by Saji George Titus

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