| Bangalore, October 28, 2005: Mindteck (India) Ltd.
a Global IT services company has announced its financial results
for the second quarter ended September 30, 2005. Revenue for the
quarter on a consolidated basis was Rs. 114 Million and the company
recorded a net profit of Rs. 7.44 million compared to 2.62 million
recorded in the corresponding period of the previous year.
This quarter, the company completed the acquisition of Mindteck
Middle East. The amalgamation of Mindteck USA Inc. with the company’s
wholly owned subsidiary Mindteck Consulting Inc. was also completed
during the quarter. These steps are in line with the company’s
strategy of consolidation of its operating entities.
Commenting on the positive results, the CEO of Mindteck P
A Ananthanarayanan said “The encouraging financial
performance of the company is not only a vindication of our strategy
of consolidation but also a validation of our business model.
The company’s Embedded System division has shown robust
growth that has forced us to bring forward the expansion of our
development centers. Mindteck’s newly established SAP Practice
is generating strong traction in the Middle East and Far East
market”.
|