Spice Mobiles reported a net profit of Rs.23 crore for the quarter ended March 31, 2010 at almost 200% rise when compared to last year.

Revenues rose to Rs 339 crore for the January-March quarter ended 2010, from Rs 170 crore in the corresponding year-ago period.

The board of directors has proposed a dividend of Rs 1.50 per equity share on the face value of Rs 3 each to the shareholders.

For the 12-month period ended March 2010, the company's net profit stood at Rs 70 crore, however it had a net loss of Rs 2.7 crore in the same period previous fiscal.