Mindteck (India) Limited (BSE: MINDTECK), a global technology company, today reported its audited financial results for the Fourth Quarter and Year ended March 31, 2015.
Consolidated revenue for the year 2014-15 stood at Rs. 319.15 crore as against Rs. 328.81 crore for the previous year ended March 31, 2014. Net profit stood at Rs. 19.20 crore as against Rs. 18.61 crore for the previous year, registering a growth of 3.17%.
Consolidated revenue for the quarter ended March 31, 2015 stood at Rs. 77.43 crore as against
Rs. 83.36 crore for the corresponding quarter of the previous year ended March 31, 2014. Net profit for the quarter ended March 31, 2015 stood at Rs. 3.28 crore as against Rs. 4.08 crore for the corresponding quarter of the previous year.
During the board meeting held today, the Board of Directors recommended a 10% dividend for the financial year 2014-15.
“During the financial year 2014-15, Mindteck was transitioning to position the company for a future of sustainable and profitable growth. In this regard, we focused on streamlining the operations and putting together a strong management team. Our revenue has stabilized, profitability improved and we have also significantly strengthened our Balance Sheet,” commented Mr. Yusuf Lanewala, Chairman & Managing Director, Mindteck. He added, “We have also made further inroads to deepen our existing client relationships and identify niche strengths where we can generate additional revenue from new client acquisitions”.
Mindteck's notable activities in the recent past include:
- Securing a large, multi-year infrastructure project for a long-standing Fortune 50 client and initiating a Big Data engagement for a Fortune 100 technology giant.
- Collaborating with an award-winning medical device manufacturer to provide technical support for their new patient monitoring innovation.
- Engaging with SinBerBEST, a public-private research collaboration focused on efficiency and sustainability of buildings in tropical climates.
- Completing Phase III of its work with the Center for International Development (CID) at Harvard University.
- Providing targeted funding in support of local charitable endeavours: Samarthanam Trust for the Disabled and Rotary Indiranagar
About Mindteck (India) Limited Mindteck, a global technology company, provides Product Engineering solutions and Information Technology services to top-tier Fortune 100 companies, start-ups, leading universities and government entities worldwide. 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. Mindteck has offices in the US, UK, Singapore, Malaysia, Netherlands, Germany, Bahrain and India, and four development centers: one each in the US and Singapore, and two in India (Kolkata and Bangalore). The company 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). It is also a Founding Member of ‘
The Atlas online’ – an interactive tool that provides visualizations of growth opportunities for over one hundred countries worldwide – for the Center for International Development (CID) at Harvard University.
For more information, please contact balika.hegde@mindteck.com. www.mindteck.com
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