[ad_1]
Dixon Technologies (India) and Bharti Enterprises sign MoU to form a joint venture (JV) company to apply for Government of India’s production linked incentive (PLI) scheme for manufacturing telecom & networking products.
Dixon’s wholly owned subsidiary – Dixon Electro Appliances or any other company identified by the parties will be the JV company, which will undertake manufacturing of telecom and networking products like modems, routers, set top boxes, IOT devices, etc for the telecom sector/industry including Airtel.
The said JV company will file necessary applications with the Ministry of Communications or any other nodal agency to avail benefits under the PLI scheme of Government of India.
Post execution of mutually acceptable agreements by the parties, the JV company will be 74% owned by Dixon and 26% owned by Bharti Enterprises.
Dixon Technologies (India)’s consolidated net profit jumped 134.2% to Rs 61.59 crore on a 119.6% surge in net sales to Rs 2,182.78 crore in Q3 FY21 over Q3 FY20.
Dixon Technologies (India) is a design-focused products and solutions company. The firm engages in manufacturing products in the consumer durables, lighting and mobile phones markets in India.
Shares of Dixon Technologies (India) gained 0.74% to Rs 3,507.85 on BSE.
Powered by Capital Market – Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
[ad_2]
Source link
