Mirc Electronics drops after reverse turnaround in Q4

Mirc Electronics lost 0.52% to Rs 5.70 at 14:53 IST on BSE after the company reported a net loss of Rs 6.55 crore in Q4 March 2014 as against net profit of Rs 12.20 crore in Q4 March 2013.

The Q4 result was announced before market hours today, 16 May 2014.

Meanwhile, the S&P BSE Sensex was up 285.98 points or 1.2% at 24,191.58.

On BSE, so far 43,000 shares were traded in the counter as against average daily volume of 25,000 shares in the past two weeks.

The stock was volatile. The stock lost as much as 3.49% at the day's low of Rs 5.53 so far during the day. The stock jumped as much as 4.88% at the day's high of Rs 6.01 so far during the day.

Mirc Electronics' total income from operations declined 8.4% to Rs 310.45 crore in Q4 March 2014 over Q4 March 2013.

Mirc Electronics makes electronic products such as television sets, LCD TVs, LED TVs, washing machines, air conditioners, DVDs and Microwave Ovens under the Onida brand. The company also makes mobiles phones under the Onida brand.

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