Mindteck (India) Limited (BSE: MINDTECK), a global technology company, today reported its unaudited financial results for the nine-month period ended December 31, 2014.
The company’s consolidated revenue for the period ended December 31, 2014 stood at Rs. 241.72 crore as against Rs. 245.44 crore for the same period last year. Net profit stood at Rs. 15.91 crore against Rs. 14.53 crore for the corresponding period last year.
For the quarter ended December 31, 2014, the company’s consolidated revenue stood at Rs. 77.43 crore as against Rs. 83.27 crore for the corresponding quarter last year. Net profit for the quarter stood at Rs. 5.27 crore as against Rs. 5.21 crore for the corresponding quarter last year.
Commenting on the financial performance, Mr. Yusuf Lanewala, Chairman & Managing Director said, “Though our revenue is marginally lower than last year for the same period, we have improved our operational efficiencies and, as a result, our profitability has increased by 9.5% compared to December 31, 2013.” He added, “One of the key highlights of this quarter included securing FDA clearance for a key client’s pre-hospital vital signs monitor.”
Keeping in step with the Government of India’s smart cities initiative, Mindteck launched Ignite(sm), its versatile Internet of Things (IoT) platform which integrates with energy consuming devices to form specific smart city solutions. The Company also collaborated with SinBerBEST, (Singapore – Berkeley Building Efficiency and Sustainability in Tropics), a joint research collaboration between the University of California, Berkeley, Nanyang Technological University (NTU), the National University of Singapore (NUS), and other agencies and groups in Singapore, to provide cutting edge technology on building efficiency and sustainability in tropical climates.
The company also progressed to Phase III of ‘Atlas’ Online, an interactive tool project with the Center for International Development (CID) at Harvard University.
About Mindteck (India) Limited
Mindteck, a global technology company established in 1991, provides Product Engineering solutions and Information Technology services to top-tier Fortune 100 companies, start-ups and government entities. Its depth of knowledge and niche expertise in embedded systems and enterprise applications is complemented by dedicated Centers of Excellence in wireless design and storage testing. The company has offices in the US, UK, Singapore, Malaysia, Netherlands, Germany, Bahrain and India. It also has four development centers: one each in the US and Singapore, and two in India (Kolkata and Bangalore). Mindteck is listed on the Bombay Stock Exchange (BSE 517344) and is among a select group of global companies appraised at Maturity Level 5, Version 1.3 of the CMMI Institute’s Capability Maturity Model Integration (CMMI). www.mindteck.com
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