Dixon Technologies: The company’s revenue from mobile phone manufacturing grew a sharp 251% on-year to Rs 3214 crore in the quarter ended December 2023, from Rs 915 crore a year before. Operating profit in this segment surged 215% on-year to Rs 104 crore, with an operating profit margin of 3.2%.
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The pace of capex moderation needs monitoring ahead. For one, RIL’s new energy business is likely to commence by the end of 2024 and it may entail additional investments
Net profit rose to ₹19,641 crore from ₹17,706 crore in the year earlier. Revenue from operations was up 3.2% to ₹2.48 lakh crore from ₹2.40 lakh crore.
Reliance Industries Ltd (RIL), Indias biggest company by market capitalisation, reported an 11% increase in consolidated net profit in the December quarter, supported by its telecom, retail and oil and gas businesses.