MIC Electronics beaten down
By
Research Desk
about 8 years ago
Makers of LED video displays, high-end electronic and telecommunication equipment and development of telecom software; the company has had a very poor show for Q2FY17. Thanks to the less than 2% (YoY) rise in revenue at Rs.54 crore, accompanied by a rise in costs – total costs were at 91% of total revenue in current Q2 compared to 81% in previous Q2. This dented the overall profitability.
EBITDA was down 43% at Rs.6.5 crore and margins slipped pretty drastically from 22% to 12%. Net profit came in at a meagre Rs.2 crore, down 72%. The Net Profit margin plunged to just 3.7% from 15.09% (YoY).
Naturally, the stock price has taken a beating today, down 10% at Rs.16 levels. Its 2-week low stands at Rs.13.