Dixon Technologies reports 86% on-year growth

New Delhi: Dixon Technologies Wednesday reported an 86% on-year growth in net profit for the fiscal third quarter, boosted by a sharp increase in its mobile phone manufacturing business.

The electronics manufacturer, which has roughly two dozen production facilities across the country, posted a revenue of Rs 4,821 crore in Q3FY24, as compared to Rs 2,408 crore the year before, with net profit zooming to Rs 97 crore, as compared to Rs 52 crore in the year ago period.

Sequentially, however, revenue declined 2.5% while net profit declined 14.2%, due to seasonality of sales on account of Diwali, the company said.