Shares of MIC Electronics Ltd, a smallcap company catering mainly to Indian Railways, rose on Tuesday after the firm said it has received a fresh order from the Railway Coach Factory.
In a regulatory filing, the company said the order pertains to the supply of GPS location-based Public Address and Passenger Information System (PAPIS). It added that this is the first order received after the product was approved under the capacity-cum-capability assessment (CCA).
The company said it had earlier, on December 23, 2024, informed exchanges about receiving approval for the PAPIS product. The latest order has been received from the Railway Coach Factory, Kapurthala.
Shares of MIC Electronics were trading at Rs 43.90 apiece on the NSE, up 2.59 percent.
Meanwhile, the company had reported a decline in its consolidated net profit for the third quarter of the current financial year. Net profit stood at Rs 1.88 crore in the quarter ended December, down 14 percent from Rs 2.16 crore in the corresponding period of the previous year.
Revenue from operations, however, jumped to Rs 90.22 crore during the quarter under review, compared with Rs 11.74 crore in the year-ago period. Total expenses rose to Rs 88.49 crore, according to a regulatory filing.
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