MIC Electronics Ltd Q4 profit rises 60% to Rs 18.30 cr

MIC Electronics Limited (B.S.E Code: 532850), global leader in design, development & manufacturing of LED Video displays & high end Electronic & Telecommunication equipment, has posted a 60% rise in net profit at 18.30 cr for the fourth quarter ended June 2010, as compared to 11.46 cr in the corresponding period of the previous year.

EPS rose to 1.56 up by 61% as compared to 0.97 in the corresponding period in previous year.

The company’s net sales saw a huge jump of 23% to 73.79 cr from 59.91 of the previous year.

RECENT DEVELOPMENTS DURING THE QUARTER
MIC Electronics Limited bags order for supply of LED Screens for Common Wealth Games 2010:

MIC Electronics Limited announced its selection as supplier of LED displays to the Jawaharlal Nehru Stadium & the Srifort Stadium for the Common Wealth Games 2010 which are to be held from the 3rd of October 2010 to the 14th of October 2010 at New Delhi. The contract was awarded to MIC Electronics by Pico Art International Pte Limited (Pico), a leader in brand activation, which is the event management company for the Common Wealth Games 2010.

MIC announces MOA with BTGES Launches 2 New Lighting Products:

MIC Electronics is collaborating with Beltron Telecom Green Energy Systems Ltd, Patna, Bihar, (BTGES) a subsidiary of Beltron Telecommunications Ltd, (BTL) in providing cost effective, sustainable Green Energy Lighting Solutions for distributed off-grid applications in the rural areas of the State of Bihar.

Solar power fixed home lights and street lights, proposed to be introduced eventually will further help the rural population of Bihar & the lesser developed regions of the country not only by enhancing their working hours but also in curbing crime and anti social activities.

The path breaking initiative of MIC Electronics and TERI is fully supported by NICHIA Corporation, Japan and Texas Instruments, USA.

ABOUT MIC ELECTRONICS LTD:
MIC Electronics Limited. is a global leader in the design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment and development of Telecom software since 1988.

Today, MIC's flagship products are LED Video Displays (indoor / outdoor / mobile), that have become an integral part of Sports Stadiums, Transportation Hubs, Digital Theatres and Theme Parks, Advertisements and Public Information Displays.

Headquartered at one of the fastest emerging IT cities, Hyderabad (India), it has nationwide presence in the form of a vast network of marketing, sales and service support centers in all metros of India. To meet the demand of its products worldwide, it has offices in Australia, Korea and USA. Now the company is gradually setting up operations in other international markets.