Dixon hits 52-week low before closing 19.19% down on poor Q3 show

Cuts FY23 guidance, but expects sales to improve in FY24

Deepak Korgaonkar Mumbai
Dixon Technologies

Shares of Dixon Technologies (India) shed about 22 per cent intraday and hit a 52-week low of Rs 2,673.05 on Friday after the company reported disappointing results for the December quarter (Q3FY23). At close, the stock was down 19.19 per cent.
Revenues declined 22 per cent year on year (YoY) to Rs 2,405 crore in Q3FY23, due to slower ramp up in the mobile segment and a muted show in consumer electronics and lighting businesses. The revenues of these segments fell 39 per cent each from the year-ago quarter.
The sluggishness in mobile segment sales was on account of weak exports of Motorola handsets and lower festival demand. Lower realisation in LED televisions led to a revenue dip in the consumer electronics segment.

Also Read

Q2 impact: Upside of up to 14% on cards for ITC, Axis Bank, Dixon Tech

Foxconn, Dixon leverage PLI route to boost manufacturing potential in India

Govt makes first disbursement under PLI scheme, Delhi firm to get Rs 52 cr

Top headlines: Consumer protection rules, Infosys may overtake Cognizant

Analysts see pressure on RIL, OMC's profitability amid firm oil prices

Flows to Indian equities are at risk as investors eye China: Chris Wood

HAL, BDL, BEL: Higher defence budget may spark fresh rally in related stks

ITC gains nearly 3%, hits over two-month high in weak market

Adani Enterprises kicks off $2.45 bn share sale amid short-seller attack

Banks under pressure; Nifty Bank, PSU Bank indices crack up to 5% in 2 days

Dixon Technolog.

  • 1D
  • 5D
  • 1M
  • 3M
  • 6M
  • 5Y
  • MAX

First Published: Jan 27 2023 | 11:46 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to