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Hyderabad, Oct. 28

The decline in LED-displays and lighting segment dragged down the revenues of MIC Electronics in the third quarter ended September 30, 2009 to Rs 45.25 crore against Rs 75.60 crore in the comparable quarter last year. The IT and communications segment too saw lower sales of Rs 8 crore (Rs 23.65 crore), according to Dr M.V. Ramana Rao, Chairman and Managing Director of MIC Electronics. As a result, the net profit for the quarter dropped 54 per cent to Rs 11.48 crore (Rs 23. 44 crore). The consolidated (including the performance of the US and Australian subsidiaries) revenue for the quarter stood at Rs 57 crore (Rs 99 crore). The consolidated net profit was down at Rs 11.63 crore (Rs 25.56 crore). — Our Bureau

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