Dixon Tech shares appeared to have been caught up in the inevitable storm of market sell-off, as the company shares drowned in a pool of red amid the earnings season.

Dixon Declares Bumper Results

The Noida-based company itself has declared its results for the recently concluded quarter that ended in September. Despite posting some bumper numbers in the three-month period, the company shares appear to be downed by a bear attack at D-Street.

On Friday, October 25, the shares of the tech company slumped by a colossal 10 per cent in the early hours of the day's trade.

When we take a look at the result for the company, Dixon Tech accrued a total income of Rs 11,528.35 crore in the second quarter of FY25. This is greater than Rs 6,587.98 crore which was achieved in Q1 of FY25. This marked a mammoth 74 per cent, from one quarter to the other.

Profits Jump 200 Per Cent

This figure is also more than 100 per cent larger than the income in the corresponding quarter of the previous fiscal year when the company made Rs 4,943.90 crore.

In addition, when we look at net profit attained by the company in the same period, it stands at Rs 411.70 crore. In the quarter before that (Q1 FY25), Dixon made a net profit of Rs 139.70 crore, marking a gargantuan 194.7 per cent rise. This figure is over 200 per cent more than the net profit churned out by the company in the previous fiscal, when a a total profit of Rs 113.36 crore was managed by Dixon Tech.

Fall From Grace

Looking at the company shares, after hitting a remarkable life high, the shares of the company dropped monumentally. The shares of the company reached an all-time high of Rs 15,900 before tumbling down the blocks.

The cumulative decline before the halfway mark of intraday trade stood at 11.82 per cent or Rs 1,779.10. This took the overall value of Dixon Tech shares to Rs 13,276.20 per piece.

These developments are coming to pass in the middle of what is being deemed as a market sell-off, which is being fueled by withdrawal of FII and a larger correction in the market amid global uncertanities.