BWI: Mindteck Reports Profit for the Six Months Period ended September 2013

Press release from Business Wire India
Source: Mindteck India limited
Tuesday, November 12, 2013 06:31 PM IST (01:01 PM GMT)
Editors: Business: All, Automotives, Banking & financial services, Business services, Energy companies, Financial Analyst, Healthcare, biotechnology & pharmaceutical, Heavy industries, Hospitality, Information technology, Stock exchanges, Telecommunications; Technology; Automotive; Healthcare
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Mindteck Reports Profit for the Six Months Period ended September 2013


Bangalore, Karnataka, India, Tuesday, November 12, 2013 -- (Business Wire India) -- Mindteck (India) Limited (BSE: MINDTECK), a global technology company, today reported its unaudited financial results for the half year ended September 30, 2013.

The Company's consolidated revenue for the half year ended September 30, 2013 stood at Rs. 162.18 crore as against Rs. 129.33 crore for the same period last year registering an increase of Rs.32.85 crore. This represents growth of 25% compared to the same period last year. Net profit stood at Rs.9.32 crore against the Net loss of Rs.0.57 crore for the corresponding period September 30, 2012.

The Company's consolidated revenue for the quarter ended September 30, 2013 stood at Rs. 85.88 crore as against Rs. 65.58 crore for the corresponding quarter of the previous year, registering a growth of 31%. Net profit for the quarter stood at Rs. 6.07 crore as against Rs. 1.97 crore for the corresponding quarter of the previous year, registering a growth of 209%.

Commenting on the financial performance, Mr. Yusuf Lanewala, Chairman & Managing Director said, "We are very pleased to announce that Mindteck is on a steady growth path. There is significant growth in the half yearly revenue, operating margin and profitability."

About Mindteck (India) Limited

Mindteck, a global technology 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 22 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, karen.stark@mindteck.com

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