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Dixon Technologies' Q2FY24 Financial Performance Review

Oct 27, 2023

By: BlinkX Research Team

In this financial performance review, we delve into the results of Dixon Technologies for the second quarter of fiscal year 2024. and analyze key metrics, including revenue, expenses, net profit, and margin.

Particulars	Q2FY23	(Y-o-Y) % change	Q1FY24	(Q-o-Q) % change	Q2FY24
Total Income (₹crs.)	2,926.21	-28.88	1,516.52	37.23	2,081.05
Expenses (₹crs.)	3,766.54	27.38	3,187.34	50.53	4,797.83
Net Profit (₹crs.)	77.1	46.99	67.19	68.72	113.36
Margin (%)	2.64	2.81	4.43	1.02	5.45

REVENUE:
Dixon Technologies reported a total income of ₹2,081.05 crores for Q2FY24, marking a substantial improvement of 37.23% sequentially. However, when compared to the same quarter in the previous fiscal year, Q2FY23, the company experienced a decline of -28.88%.

EXPENSES:
Expenses for Dixon Technologies in Q2FY24 amounted to ₹4,797.83 crores, showcasing a significant increase of 50.53% compared to the preceding quarter. On a year-on-year basis, the company's expenses increased by 27.38%.

NET PROFIT:
The net profit of Dixon Technologies for Q2FY24 was ₹113.36 crores, reflecting a remarkable growth of 68.72% sequentially. On a year-on-year basis, the company demonstrated a substantial 46.99% increase in net profit.

MARGINS:
Dixon Technologies' margin in Q2FY24 was 5.45%, indicating an impressive 1.02% increase compared to the preceding quarter. Year-on-year, the company exhibited a positive margin shift, with a 2.81% increase.

In conclusion, Dixon Technologies' financial performance in Q2FY24 stands out with significant improvements in revenue, net profit, and margins. Despite a challenging year-on-year comparison, the company rebounded impressively, driven by what the government push of Make in India and market positioning.

Stay tuned for more detailed updates on Dixon Technologies' financial performance in the coming quarters.