Dixon Tech slips after Q1 PAT tumbles 93% YoY

Dixon Technologies (India) shed 0.77% to Rs 7914.50 after the company's consolidated net profit slumped 93% to Rs 1.60 crore on a 55% decline in revenue from operations to Rs 516.94 crore in Q1 FY21 over Q1 FY20.

EBITDA fell 68% to Rs 17.10 crore in Q1 June 2020 from Rs 53.15 crore in Q1 June 2019. EBITDA margin was at 3.3% as on 30 June 2020 as against 4.6% as on 30 June 2019.

Profit before tax in the first quarter stood at Rs 2.16 crore, down by 94% from Rs 35.69 crore in the same period last year.

 

Tax expense decreased by 95% on a year-on-year (YoY) basis to Rs 0.56 crore in Q1 June 2020.

Dixon Technologies is a design-focused products and solutions company. The firm engages in manufacturing products in the consumer durables, lighting and mobile phones markets in India.

The stock surged 72.26% in the past three months while the benchmark S&P BSE Sensex added 18.35% during the same period.

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