MIRC ELEC. Announces Quarterly Results (3QFY19); Net Profit Down 52.7%

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MIRC ELEC. Announces Quarterly Results (3QFY19); Net Profit Down 52.7%
Wed, 13 Feb

MIRC ELEC. has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

MIRC ELEC. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,3131,2841,60625.1%22.3%
Other incomeRs m5125-62.1%2.2%
TurnoverRs m1,3181,2971,61124.2%22.2%
ExpensesRs m1,2251,2751,53820.6%25.6%
Gross profitRs m88970675.6%-21.0%
DepreciationRs m242320-11.8%-14.8%
InterestRs m4038418.0%1.5%
Profit before taxRs m29-3914-52.7%
TaxRs m0000.0%0.0%
Profit after taxRs m29-3914-52.7%
Gross profit margin%6.70.74.3
Effective tax rate%0.00.00.0
Net profit margin%2.2-3.00.9
* 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 grew 22.3% on a year-on-year (YoY) basis. The expenses were up by 25.6% YoY during the same period.
  • The company's operating profit declined by 21.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.3% in 3QFY19 as against 6.7% in 3QFY18.
  • Depreciation charges declined by 14.8% and finance costs increased by 1.5% YoY, respectively.
  • Other income increased by 2.2% YoY during the quarter.
  • Net profit for the quarter declined by 52.7% YoY. Net profit margins during the quarter declined from 2.2% in 3QFY18 to 0.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 25.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 20.6% QoQ during the same period.
  • The company's operating profit increased by 675.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 4.3% in 3QFY19 as against 0.7% in 2QFY18.
  • Net profit for the quarter increased by 135.7% QoQ, while net profit margins increased from -3.0% in 2QFY18 to 0.9% in 3QFY19.

To see how MIRC ELEC. has performed over the last eight quarters, please visit here.

MIRC ELEC. Share Price Performance

Over the last one year, MIRC ELEC. share price has moved up from Rs 56.2 to Rs 21.5, registering a Loss of Rs 34.7 or around 61.8%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 21,395.3 (down 0.7%). Over the last one year it has moved up from 21,309.6 to 21,395.3, a gain of 86 points (up 0.4%).

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 21.5, the price to earnings (P/E) ratio of MIRC ELEC. stands at 211.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.9 times.

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Related Views on News

MIRC ELEC. Announces Quarterly Results (4QFY19); Net Profit Down 159.4% (Quarterly Result Update)

Jun 7, 2019 | Updated on Jun 7, 2019

For the quarter ended March 2019, MIRC ELEC. has posted a net profit of Rs 24 m (down 159.4% YoY). Sales on the other hand came in at Rs 2 bn (down 17.3% YoY). Read on for a complete analysis of MIRC ELEC.'s quarterly results.

MIRC ELEC. Announces Quarterly Results (2QFY19); Net Profit Down 132.3% (Quarterly Result Update)

Nov 21, 2018 | Updated on Nov 21, 2018

For the quarter ended September 2018, MIRC ELEC. has posted a net profit of Rs 39 m (down 132.3% YoY). Sales on the other hand came in at Rs 1 bn (down 36.1% YoY). Read on for a complete analysis of MIRC ELEC.'s quarterly results.

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