Press release from Business Wire India
Source: Mindteck India limited
Thursday, August 08, 2013 08:53 PM IST (03:23 PM GMT)
Editors: General: Economy; Business: Business services, Financial Analyst, Information technology, Stock exchanges; Technology; Healthcare
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Mindteck Reports Profit for Q1 2013-14

Bengaluru, Karnataka, India, Thursday, August 08, 2013 — (Business Wire India) — Mindteck (India) Limited (BSE: MINDTECK), a global technology company, today reported its unaudited financial results for the first quarter ended June 30, 2013.

The Company’s consolidated revenues for the quarter stood at Rs. 76.30 crore as against Rs. 63.75 crore for the corresponding quarter of the previous year ended June 30, 2012, registering an increase of Rs. 12.55 crore and growth of 20%. Net profit for the quarter stood at Rs. 3.26 crore as against a net loss of Rs. 2.53 crore for the corresponding quarter of the previous year.

Commenting on the financial performance, Mr. Yusuf Lanewala, Managing Director and Group CEO, said, “I’m very pleased to see the progress we’re making as an organization toward sustained, predictable and profitable growth. What’s noteworthy is the significant improvements in profitability and operating margin for the quarter.”

About Mindteck (India) Limited

Mindteck, a global company, has served medical device manufacturers, top-tier semiconductor companies, analytical/scientific powerhouses, equipment OEMs, public sector entities, and service companies in the Global 2000 for over 21 years. The company’s depth of knowledge and niche expertise in product engineering is complemented by dedicated Centers of Excellence in Wireless Design and Storage Testing. Presently, the company employs over 1,000 individuals throughout offices in the US and UK, Singapore, Malaysia, Bahrain and India. It also has four development centers (US, Singapore and India (Kolkata, Bangalore). The company is listed on the Bombay Stock Exchange (BSE 517344). www.mindteck.com

CONTACT DETAILS
Karen Stark, Mindteck India limited, +1 (917) 442-4688, [email protected]

KEYWORDS
ECONOMY, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY, HEALTHCARE

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