Dixon Technologies Q3 net profit up 2-folds to Rs 61.59 cr

Dixon Technologies (India) Ltd, a leading company in the electronics manufacturing services (EMS) space, on Tuesday reported an over two-fold jump in its consolidated net profit to Rs 61.59 crore for the quarter ended December 2020 on sharp growth in its revenue.

The company had posted a net profit of Rs 26.30 crore in the October-December period a year ago, Dixon Technologies said in a BSE filing.

Its revenue from operations soared two-folds to Rs 2,182.78 crore in the quarter against Rs 993.81 crore of the corresponding quarter last fiscal.

Dixon Technologies' total expenses in October-December jumped to Rs 2,101.24 crore from Rs 960.18 crore in the year-ago period.

Meanwhile, the company in a separate filing said that its board at its meeting held on Tuesday has considered and approved the subdivision of the company's shares into 1:5 ratio.

It has approved "sub-division/stock split of existing one equity share of the face value of Rs 10 each fully paid up into five equity shares of Rs 2/- each fully paid up, subject to shareholders approval." Shares of Dixon Technologies (India) Ltd on Tuesday settled at Rs 15,716.90 on BSE, up 3.59 per cent over the previous close.