Mirc Electronics Q1 Net at Rs 2.21 crore

Consumer durables firm Mirc Electronics, which sells electronic and appliances under 'Onida' brand, today reported standalone net profit of Rs 2.21 crore in the quarter ended June 30, 2014 on lower expenses.
The company had reported a net loss of Rs 16.80 crore in the corresponding quarter a year ago, Mirc Electronics said in a BSE filing.
During the quarter, Mirc Electronics net sales went down by 7.72 per cent to Rs 342.22 crore from Rs 370.88 crore posted in the corresponding quarter previous fiscal.
Overall expenses during the quarter stood at Rs 332.56 crore as against Rs 377.77 crore in the same quarter last year.

Shares of Mirc Electronics closed at Rs 6.76 apiece, up 1.81 per cent from the previous close on the BSE today.