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Shares of MIC Electronics are seeing stunted growth

Shailendra BhatnagarAug 14, 2015, 15:30 IST

MIC Electronics Ltd. retraced its steps towards fresh highs after the company swung to a quarterly profit on the back of higher sales.

MIC said it first quarter net profit stood at 47.5 crore rupees compared with a loss of 3.2 crore rupees in the same period last year. Sales surged 26 percent in April-June to 47.8 crore rupees compared with 37.8 crore rupees.

MIC rose 2.35 rupees, or 9.8 percent, to 26.30 rupees on the NSE where 12.2 lakh shares were traded versus 5-day average of 6.5 lakh shares.

MIC's market capitalisation has surged nearly 5-fold in the past one year to 289 crore rupees.

Image credit: Indiatimes