Precision Wires India, engaged in production and sale of winding wires made of copper of all types, reported a rise of 22.16% in standalone net profit to Rs 100.06 million in the quarter ended September 2020 as against Rs 81.91 million during the previous quarter ended September 2019.

The company’s net sales increased 6.17% to Rs 3,920.57 million in the quarter ended September 2020 as against Rs 3,692.87 million during the previous quarter ended September 2019.

Total expenses grew  5.28% to Rs 3,793.63 million in the quarter ended September 2020 as against Rs 3,603.25 million in the same quarter last fiscal.

Precision Wires EPS has increased to Rs 4.33 in September 2020 from Rs 3.54 in September 2019.

The Board of Directors of Precision Wires India, on November 11, has considered and declared interim dividend at 20% that is Rs 1 a equity share of the face value of Rs 5 each. The record date for payment of the interim dividend is Nov.20, 2020 and the said dividend shall be paid on or before Dec.10, 2020.

Shares of the company gained Rs 7.45, or 5.76%, to trade at Rs 136.80.  The total volume of shares traded  was  4,991 at  the BSE (Wednesday).