Mirc Electronics Q2 results: profit at ₹1.35Cr, Revenue decreased by 21.66% YoY

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.