Mirc Electronics gains nearly 20%

India Infoline News Service | Mumbai | September 14, 2017 11:40 IST

Mirc Electronics roared on bourses on Thursday’s trade after posting its Q1FY18 results on Wednesday.

Business growth, bull
Mirc Electronics roared on bourses on Thursday’s trade after posting its Q1FY18 results on Wednesday. The consumer electronics player also traded on a 52-week high value of Rs 20.14 per share on BSE.

The stock attracted a total traded quantity of 13.39 lakh shares on BSE. It gained 19.95% at Rs 20.14 per share on BSE and was locked in upper circuit. The stock also witnessed a spurt in volume by 8.04 times.

The company reported Q1FY18 results wherein net profit rose 287.93% to Rs 4.50 crore in the quarter ended June 2017 as against Rs 1.16 crore during the previous quarter ended June 2016. Sales declined 13.66% to Rs 207.29 crore in the quarter ended June 2017 as against Rs 240.08 crore during the previous quarter ended June 2016.

The stock on yearly basis has given 65.31% returns and has outperformed BSE Small cap index and underperformed BSE Consumer Durables index. The stock has a return on equity of 7.10% for the last three years.

***Note: This is a NSE Chart

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