Press release from Business Wire India
Source: Mindteck
Tuesday, May 14, 2013 06:32 PM IST (01:02 PM GMT)
Editors: General: Economy, People; Business: Banking & financial services, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
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Mindteck Reports Profit for Year-End 2012-13
Bangalore, Karnataka, India, Tuesday, May 14, 2013 -- (Business Wire India) -- Mindteck (India) Limited (BSE: MINDTECK), a global technology and talent consulting company, today reported its audited financial results for the year ended March 31, 2013, and unaudited results for the last quarter ended March 31, 2013.
Consolidated revenue for the year 2012-13 stood at Rs. 264.32 crore as against Rs. 222.62 crore for the previous year ended March 31, 2012, registering an increase of Rs. 41.69 crore. This represents growth of 19% as compared to the previous year. Net profit stood at Rs. 1.06 crore as against a net loss of Rs. 5.06 crore for the previous year.
Consolidated revenue for the quarter stood at Rs. 70.94 crore as against Rs. 57.74 crore for the corresponding quarter of the previous year ended March 31, 2012, registering an increase of Rs. 13.19 crore and growth of 23%. Net profit for the quarter stood at Rs. 0.04 crore as against a net loss of Rs. 1.14 crore for the corresponding quarter of the previous year.
The company's growth is attributable to a strong second half of the fiscal year propelled by a boost in business with several key clients, particularly within the semiconductor, smart energy, and data storage verticals. In addition, the company further expanded its client base and deepened a number of existing relationships from good traction in its storage testing, cloud, wireless, and mobility offerings.
About Mindteck (India) Limited
Mindteck, a global technology and talent consulting 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 and talent acquisition and management, is complemented by dedicated Centers of Excellence in Cloud Computing, Mobility Solutions, Electronics and 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
Ronita Shambaya, Mindteck India limited, +91 (80) 41548000, ronita.shambaya@mindteck.com
KEYWORDS
ECONOMY, PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY
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