Mindteck reports profit for the six months period ended September 2013

Mindteck (India) Limited (BSE: MINDTECK), a global technology company, 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."