Dixon Technologies Q4 results: Net profit rise 60% on-year, but down sequentially

New Delhi: Electronics maker Dixon Technologiesprofit for the March quarter declined 28.9% to Rs 44.26 crore as compared to Rs 61.59 crore recorded in the preceding quarter on the back of sliding revenues, but increased 60% on-year basis.

For the entire fiscal 2020-21, Dixon made a profit of Rs 159.8 crore, up 33% from previous year’s Rs 120.5 crore.

During the bygone quarter, the company saw a dip of 3.3% in its total income which declined to Rs 2,110.69 crore from Rs 2,182.92 crore in the third quarter of the previous fiscal.

As per latest figures, consumer electronics continued to be the highest grossing segment, which contributed as much as 56% of the company’s total revenue, followed by lightning products which accounted for 18% and the home appliances and mobile division which contributed 7% and 14% respectively.

During the year ended 31st March 2021, the outstanding amount of Rs 2.12 crore from the proceeds of its IPO made in the year 2017 has been utilised for general corporate purposes, the company said.

“There are no further IPO proceeds outstanding for utilisation,” it said in the fourth quarter financial results declared Thursday.

The company’s board of directors have recommended a final dividend of INR 1.00/- per Equity Share of Rs. 2/- each for the financial year 2020-2021 subject to the approval of the shareholders.

Dixon’s stock rose 2.31% to close on Rs 3993.50 per share on BSE on Thursday, while the benchmark index rose 0.19%.

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