The shares of one of India’s leading electronics manufacturers which partners with Samsung, Xiomi, Panasonic.etc gained 2 percent in the day’s trade after it declared robust quarter ended September (Q2FY24) results with 68 percent jump in Net Profit quarter on quarter.
At 11:08 a.m the shares of Dixon Technologies Limited were trading at Rs. 5,420 up 1.48 percent from its previous day close price and its market capitalization is Rs. 32,338 Crores.
As per the company’s filing, Dixon Technologies has release its quarter ended September(Q2FY24) results and it is as follows
Its revenue from operations grew 27.83 percent YoY from Rs. 3,866.77 Crores in Q2FY23 to Rs. 4,943.18 Crores in Q2FY24 and it grew 51.09 percent QoQ from Rs. 3,271.50 Crores in Q1FY24 to Rs. 4,943.18 Crores in Q2FY24.
Its Net Profit grew 46.99 percent YoY from Rs. 77.12 Crores in Q2FY23 to Rs. 113.36 Crores in Q2FY24 and it grew 68.71 percent QoQ from Rs. 67.19 in Q1FY24 to Rs. 113.36 Crores in Q2FY24.
According to the recent financials of the company, it has reported an increase in the revenue from Rs. 10,697.08 Cr in FY22 to Rs. 12,192.01 in FY23. Moreover, the company’s net profits have increased from 190.33 Cr to 255.08 Cr.
The company has reported a return on equity (ROE) of 22.63 percent and return on capital employed (ROCE) of 27.98 percent, which indicate a good return on equity and efficient use of the company’s resources.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 33.80 percent stake, Domestic Institutional Investors hold 27.44 percent and the Foreign Institutional Investors hold 15.66 percent.
Dixon Technologies provides manufacturing and design focused solutions in consumer durables, home appliances, lighting, mobile phones, security devices, set top boxes, wearables and medical equipment to customers across the globe, along with repairing and refurbishment services of LED TV panels.It serves as original equipment manufacturer (OEM) as well as original design manufacturer (ODM) to famous well known brands like Samsung, Xiaomi, Philips, Panasonic etc.
Written by: Bharath K.S
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