Dixon Tech Q1 results: Consolidated PAT jumps 1,035% to Rs 18 cr, but misses estimates
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Synopsis
The contract manufacturer reported a 261 per cent year-on-year rise in consolidated revenues to Rs 1,867 crore for the reported quarter.
By ETMarkets.com
MUMBAI: Dixon Technology today reported a 1,035 per cent rise in its consolidated net profit to Rs 18.2 crore for the quarter ended June, which was sharply lower than analysts’ estimate.
The June quarter performance was aided by an extremely weak base in the year-ago period, which was marred by the national lockdown to contain the spread of Covid-19 infections.
The company’s operating profit in the quarter soared 182 per cent on-year to Rs 48.3 crore, which also missed analysts’ expectations.
The lower-than-expected earnings of the company were likely a result of the impact of the second wave of Covid-19 infections in the country during the quarter and the localized lockdowns it triggered.
Shares of Dixon Tech were up 0.1 per cent at Rs 4,536.1 on the National Stock Exchange.
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The contract manufacturer reported a 261 per cent year-on-year rise in consolidated revenues to Rs 1,867 crore for the reported quarter.The June quarter performance was aided by an extremely weak base in the year-ago period, which was marred by the national lockdown to contain the spread of Covid-19 infections.
The company’s operating profit in the quarter soared 182 per cent on-year to Rs 48.3 crore, which also missed analysts’ expectations.
The lower-than-expected earnings of the company were likely a result of the impact of the second wave of Covid-19 infections in the country during the quarter and the localized lockdowns it triggered.
Shares of Dixon Tech were up 0.1 per cent at Rs 4,536.1 on the National Stock Exchange.
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