MIC ELECTRONICS Announces Quarterly Results (1QFY19); Net Profit Down 276.5%

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MIC ELECTRONICS Announces Quarterly Results (1QFY19); Net Profit Down 276.5%
Wed, 22 Aug

MIC ELECTRONICS has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

MIC ELECTRONICS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m7441547-95.5%-99.1%
Other incomeRs m121-79.2%-64.3%
TurnoverRs m7461577-95.3%-99.0%
ExpensesRs m68628237-86.9%-94.6%
Gross profitRs m59-1,090-30-151.5%
DepreciationRs m192019-3.0%-0.5%
InterestRs m52310-100.0%-98.1%
Profit before taxRs m35-1,339-49-238.9%
TaxRs m85930-100.0%-100.0%
Profit after taxRs m28-1,932-49-276.5%
Gross profit margin%7.9-707.5-436.2
Effective tax rate%21.3-44.30.0
Net profit margin%3.7-1,234.6-660.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 99.1% on a year-on-year (YoY) basis. The expenses were down by 94.6% YoY during the same period.
  • The company's operating profit declined by 151.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 436.2% in 1QFY19 as against 7.9% in 1QFY18.
  • Depreciation charges and finance costs declined by 0.5% YoY and 98.1% YoY, respectively.
  • Other income declined by 64.3% YoY during the quarter.
  • Net profit for the quarter declined by 276.5% YoY. Net profit margins during the quarter declined from 3.7% in 1QFY18 to -660.8% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 95.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 86.9% QoQ during the same period.
  • The company's operating profit increased by 97.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 436.2% in 1QFY19 as against 707.5% in 4QFY18.
  • Net profit for the quarter increased by 97.5% QoQ, while net profit margins increased from -1238.5% in 4QFY18 to -660.8% in 1QFY19.

To see how MIC ELECTRONICS has performed over the last eight quarters, please visit here.

MIC ELECTRONICS Share Price Performance

Over the last one year, MIC ELECTRONICS share price has moved up from Rs 7.9 to Rs 2.9, registering a Loss of Rs 5.0 or around 63.3%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 12,492.6 (down 0.1%). Over the last one year it has moved up from 10,046.1 to 12,492.6, a gain of 2,447 points (up 24.4%).

Overall, the S&P BSE SENSEX is up 22.5% over the year.

Current Valuations

At the current price of Rs 2.9, the price to book value (P/BV) ratio of MIC ELECTRONICS stands at 0.1 times.

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Related Views on News

MIC ELECTRONICS Announces Quarterly Results (4QFY18); Net Profit Down 2500.5% (Quarterly Result Update)

Aug 22, 2018 | Updated on Aug 22, 2018

For the quarter ended March 2018, MIC ELECTRONICS has posted a net profit of Rs 2 bn (down 2500.5% YoY). Sales on the other hand came in at Rs 154 m (down 76.7% YoY). Read on for a complete analysis of MIC ELECTRONICS's quarterly results.

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