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Mindteck (India) Q 3 Net up by 62%

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Mindteck (India) Q 3 Net up by 62%

Bangalore, Karnataka, India

Mindteck (India) Ltd, a global IT services company, today announced its financial results for the third quarter ended on December 31, 2007 of the FY 2006-07.

Total revenue on a consolidated basis doubled from Rs. 11.62 crores for the corresponding quarter of the previous year to Rs 23.27 crore for this quarter ending December 31, 2006. The net profit for the quarter was Rs. 0.94 crore compared to Rs. 0.58 crore recorded in the corresponding period of the previous year, a rise of 62 per cent. On a standalone basis, total revenue for the quarter increased by 32 per cent to Rs. 6.65 crore, as against Rs. 5.04 crore for the corresponding period of the previous year.

Commenting on the impressive performance; Mr M G Ved, chairman of the company, said, "Our consolidation strategies have been quite remunerative and we expect to keep up the pace in future, as well. We are also forging technical and marketing alliances to accelerate the growth."

About Mindteck (India) Limited
Headquartered at Bangalore, Mindteck provides a broad range of business and technology solutions to help their clients worldwide improve business performance. Mindteck's core service offerings are Embedded System services, Enterprise Consulting (SAP) Services and IT consulting services.

Listed on the Bombay Stock Exchange, Mindteck (BSE: MDTK) has operational centers in USA, India, Bahrain and Malaysia. Mindteck's global delivery model provides value in terms of multi-site development facilities, access to talent and proven processes & methodologies with a state of the art development center in Bangalore.

Mindteck benchmarks its quality processes against international standards and is ISO 9001:2000 and ISO 27001:2005 certified and a SEI CMM level 4 assessed company. Mindteck's customers include Fortune 500 companies, Multinationals (MNCs) and successful Small & Medium Enterprises (SMEs) across several industries.

More information about Mindteck can be found at www.mindteck.com.

Karthik Ponnapa, Mindteck India limited, +91 9886454654 karthik.ponnapa@mindteck.com

Shailesh Kher, Prana PR (Adfactors Group), +91 9820664725 shailesh.kher@pranapr.com

Source: Mindteck India limited (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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