Mirc Electronics Q2 Results Live : Mirc Electronics announced its Q2 results on October 30, 2024, revealing a significant decline in revenue, which decreased by 21.66% year-over-year. The company reported a profit of ₹1.35 crore, a notable recovery compared to a loss of ₹6.43 crore during the same period last fiscal year.
In comparison to the previous quarter, the revenue saw a sharper decline of 33.55%. This drop highlights the challenging market conditions the company faced in recent months.
Despite the revenue challenges, Mirc Electronics reported a remarkable increase in operating income, which surged by 495.52% quarter-over-quarter and 176.88% year-over-year, indicating improved efficiency in operations.
The company’s selling, general, and administrative expenses saw a slight rise of 3.95% quarter-over-quarter but decreased by 5.21% year-over-year, reflecting cost management efforts amidst fluctuating revenues.
Mirc’s earnings per share (EPS) for Q2 stood at ₹0.06, marking a 121.43% increase year-over-year, suggesting a positive trajectory in profitability despite the revenue slump.
In terms of stock performance, Mirc Electronics has achieved a 2.41% return over the last week, but it has faced a significant 20.97% decline over the past six months. However, the year-to-date return remains positive at 34.56%.
Currently, Mirc Electronics has a market capitalization of ₹491.01 crore, with its stock trading between a 52-week high of ₹32.99 and a low of ₹15.5.
Mirc Electronics Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 151.37 | 227.79 | -33.55% | 193.23 | -21.66% |
| Selling/ General/ Admin Expenses Total | 15.28 | 14.7 | +3.95% | 16.12 | -5.21% |
| Depreciation/ Amortization | 1.67 | 1.81 | -7.73% | 2.04 | -18.14% |
| Total Operating Expense | 147.38 | 227.12 | -35.11% | 198.42 | -25.72% |
| Operating Income | 3.99 | 0.67 | +495.52% | -5.19 | +176.88% |
| Net Income Before Taxes | 1.35 | 0.44 | +206.82% | -6.43 | +121% |
| Net Income | 1.35 | 0.44 | +206.82% | -6.43 | +121% |
| Diluted Normalized EPS | 0.06 | 0.12 | -50.56% | -0.28 | +121.43% |
#Mirc #Electronics #results #profit #1.35Cr #Revenue #decreased #YoY
