Shares of multibagger Dixon Technologies are in news today after the electronic goods contract manufacturer reported a 265% on-year rise in net profit for the September 2024 quarter. Profit climbed to Rs 412 crore amid exceptional gain of Rs 209.6 crore and an increase in mobile phone production. Profit in Q2 of last fiscal stood at Rs 113.36 crore.
Revenue climbed 133% to Rs 11,534 crore in the July-September period compared to Rs 4,944 crore a year ago.
Earnings before interest, tax, depreciation and amortization (EBIDTA) stood at Rs 420 crore, up 110 percent year-on-year.
The earnings were announced after market hours on Thursday. Dixon Technologies stock ended 1.34% lower at Rs 15,064 on Thursday against the previous close of Rs 15,269 on BSE. The stock of the electronic goods contract manufacturer opened higher at Rs 15,343. Total 7035 shares of the firm changed hands over the counter amounting to a turnover of Rs 10.75 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Dixon Technologies stands at 58.6, signaling it’s trading neither in the overbought nor in the oversold territory. Shares of Dixon Technologies are trading higher than the 20 day, 30 day, 50 day, 100 day and 200 day moving averages.
Dixon Technologies (India) is the largest home-grown design-focused and solutions company engaged in contract manufacturing products in the consumer durables, lighting and mobile phones markets in India.
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