Moneycontrol
Nov 14, 2017 10:14 PM IST | Source: PTI

Dixon Technologies Q2 net profit up 33% at Rs 20.7 crore

Electronics manufacturer Dixon Technologies on Tuesday said its consolidated net profit increased 33 percent to Rs 20.7 crore for the September quarter.

 
 
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Electronics manufacturer Dixon Technologies on Tuesday said its consolidated net profit increased 33 percent to Rs 20.7 crore for the September quarter.

This is against a net profit of Rs 15.56 crore in the year-ago period, Dixon Technologies said in a BSE filing.

The company's revenue from operations jumped 17.2 percent to Rs 881.1 crore in the quarter under review from Rs 751.5 crore in the July-September 2016 quarter.

The company has delivered a stellar financial performance in the first six months of the current financial year considering that Q1, FY18 was impacted by channel de-stocking ahead of the GST implementation, it said.

"Despite a challenging short-term disruption caused by GST, the company has managed to post strong revenues and profitability," Dixon Technologies Chairman Sunil Vachani said.

He added that Dixon is "optimistic" on its performance in forthcoming quarters on the back of new customer additions in the last few months, new business of CCTVs and DVRs at Tirupati facility and investments in projects with backward integration.

The company has set up a facility in Tirupati to "penetrate the markets in South India and to provide easier access to the exports market", Dixon said in an investor presentation.

The company has commenced production of LED TVs in September this year at the 12-acre facility, while that of CCTVs and DVRs is expected to begin in the third week of November.

Dixon, which works with brands like Panasonic, Gionee, Samsung, Flipkart (MarQ) and Crompton Greaves, said revenues from consumer electronics segment stood at Rs 466.09 crore.

Lighting products accounted for Rs 188.13 crore in revenue, while that from home appliances and mobile phones stood at Rs 58.14 crore and Rs 141.69 crore, respectively.
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