New Delhi, Jan 20 (IANS) Homegrown electronics manufacturer Dixon Technologies on Monday doubled its net profit in Q3 FY25, as earnings rose to Rs 216 crore from Rs 97 crore in the same period last fiscal.
According to the company’s exchange filing, the revenue also doubled to Rs 10,553.7 crore from Rs 4,817 crore in the year-ago period — a jump of nearly 119 per cent.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 390.6 crore in Q3 which was Rs 184 crore last year.
However, the margin slightly declined to 3.7 per cent from 3.8 per cent on a year-on-year basis.
The company’s mobile business played a key role in this performance. Revenue from the mobile segment almost tripled to Rs 9,305 crore, while earnings before interest and tax (EBIT) from this segment more than tripled to Rs 322 crore, up from Rs 104 crore last year.
As per the filing, the mobile business now contributes 89 per cent to Dixon’s total revenue, up from 67 per cent in the same period a year ago.
The shares of Dixon Technologies went up 1.72 per cent on Monday. However, it has declined by 3 per cent so far this year.
In September last year, consumer electronics majors HP Inc and Padget Electronics, a subsidiary of homegrown Dixon Technologies, signed an MoU to manufacture HP laptops, personal computers, and All-in-One PCs at a factory in Tamil Nadu.
The production of HP devices is set to commence from this month, and is projected to reach 20 lakh units per annum in the next two years after the commencement of production Facility at Oragadam, an industrial suburb of Chennai.
It will generate over 1,500 direct jobs and Padget will gradually increase local manufacturing of components, modules and peripherals, creating more jobs.