Dixon Technologies shares dip 10% despite 265% YoY jump in Q2 profit. What analysts say
Dixon Technologies fell by 9.7% to a day's low of Rs 13,601.30 on the BSE after soaring 6% to hit a new all-time high of Rs 15,999.95 in Friday's session, despite a 265% year-on-year (YoY) jump in its Q2 PAT.
The company reported a Q2 PAT of Rs 412 crore on Thursday, driven by increased mobile phone production and an exceptional gain of Rs 209.6 crore in the fiscal second quarter of FY2025.
Dixon posted a 120% YoY increase in revenues to Rs 18,116 crore in the July-September period, compared to Rs 4,944 crore a year ago.
Meanwhile, in the second fiscal quarter, Dixon Technologies announced it would divest its entire 50% stake in the joint venture AIL Dixon to Aditya Infotech through a transfer of 95 lakh equity shares of the JV. The one-time exceptional gain came from this transaction.
What Do Analysts Say After the Q2 Results?
Investec: Buy | Target Price: Rs 15,900
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