MIC Electronics hits the floor after COO Venumuddala Vivek Reddy resigns

MIC Electronics was locked in lower circuit of 5% at Rs 53.42 after the company informed that Venumuddala Vivek Reddy has resigned from his position as Chief Operating Officer (COO), effective from 31 March 2025.

According to an exchange filing, Venumuddala Vivek Reddy has resigned from his position as COO due to personal reasons.

MIC Electronics specializes in the design, development, and manufacturing of LED video displays as well as high-end electronics and telecommunications products.

The company reported a 19.9% decline in standalone net profit to Rs 2.17 crore on a 32.8% decrease in revenue from operations to Rs 11.75 crore in Q3 FY25 over Q3 FY24.

 

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