MIRC Electronics soars after Q2 results

MIRC Electronics rose 15.84% to Rs 39.50 at 11:56 IST on BSE after the company reported turnaround results in Q2 September 2017 after market hours yesterday, 20 November 2017.

Meanwhile, the S&P BSE Sensex was up 145.92 points, or 0.44% to 33,505.82.

On the BSE, 22.65 lakh shares were traded in the counter so far, compared with average daily volumes of 6.98 lakh shares in the past one quarter. The stock had hit a high of Rs 40.75 so far during the day, which is also a 52-week high for the counter. The stock had hit a a low of Rs 36.90 so far during the day. The stock hit a 52-week low of Rs 11.56 on 21 November 2016.

The stock had outperformed the market over the past 30 days till 20 November 2017, rising 4.92% compared with 2.99% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 144.44% as against Sensex's 6.61% rise. The scrip had also outperformed the market in past one year, rising 189.47% as against Sensex's 29.48% rise.

The small-cap company has equity capital of Rs 21.18 crore. Face value per share is Re 1.

MIRC Electronics reported net profit of Rs 12.04 crore in Q2 September 2017, compared with net loss of Rs 9.92 crore in Q2 September 2016. Revenue from operations rose 29.13% to Rs 201.09 crore in Q2 September 2017 over Q2 September 2016.

Sales for the quarter ended 30 September 2017 is net of Goods and Service Tax (GST). However, sales for the quarter ended 30 September 2016 is gross of excise duty.

MIRC Electronics is an electronics and consumer durables company.

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