Mirc Electronics Q4 net up 87 pc at Rs 9.7 cr

MUMBAI: Mirc Electronics, which sells electronic and appliances brand ' Onida', today posted an 97 per cent increase in its standalone net profit to Rs 9.71 crore in the quarter ended March 31, 2011 as compared to the same period last fiscal.

The company had a net profit of Rs 5.19 crore in the quarter ended March 31, 2010, Mirc Electronics said in a filing to the Bombay Stock Exchange.

During the quarter, Mirc Electronics had standalone net sales of Rs 574.31 crore, up 46 per cent from Rs 393.41 crore posted in the corresponding quarter previous fiscal.

The company has not provided the consolidated figures of the quarter.

For the year ended March 31, 2011, Mirc Electronics' consolidated net profit stood at Rs 29.01 crore, an increase of 46 per cent from Rs 19.9 crore in the year-ago period.

During the period, its net sales increased to Rs 1,939.74 crore from Rs 1,526.69 crore recorded in the previous financial year.