Mirc Electronics Q2 net profit at Rs.10.52 Crores, down 8.2%

Mirc Electronics Ltd has announced the following Audited results for the quarter ended September 30, 2006:

The Company has posted a profit after tax of Rs 105.20 million for the quarter ended September 30, 2006 where as the same was at Rs 114.60 million for the quarter ended September 30, 2005. Total Income (net of excise) is Rs 3998.70 million for the quarter ended September 30, 2006 where as the same was at Rs 3177.20 million for the quarter ended September 30, 2005.

Onida Savak Ltd (OSL) was amalgamated with the company with the appointed date of March 31, 2005. The BIFR order approving the scheme was filed with the Registrar of companies on December 12, 2005 and thus the scheme became effective from that date. Effect of the merger was given in the accounts of the Company in the quarter ended December 31, 2005 and hence the figure for the period ended September 30, 2005 are without considering the results of OSL. To this extent figures of the current period are not comparable with those of the previous period.

Source : Equity Bulls

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