Mindteck reports profit for the fourth quarter and year ended march 31, 2014
Bangalore, India, June 1, 2014: Mindteck (India) Limited, a global technology company, has reported its audited financial results for the Fourth Quarter and Year ended March 31, 2014.
Consolidated revenue for the year 2013-14 stood at Rs. 328.81 crore as against Rs. 264.31 crore for the previous year ended March 31, 2013, registering an increase of Rs. 64.50 crore. This represents growth of 24% as compared to the previous year. Net profit stood at Rs. 18.61 crore as against Rs. 1.06 crore for the previous year.
Consolidated revenue for the quarter ended March 31, 2014 stood at Rs. 83.36 crore as against Rs. 70.93 crore for the corresponding quarter of the previous year ended March 31, 2013, registering an increase of Rs. 12.43 crore and growth of 18%. Net profit for the quarter ended March 31, 2014 stood at Rs. 4.08 crore as against Rs. 0.04 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 2013-14. The last dividend declared by the company was 5% in 2007-08.
Through its recently formed R&D initiative, Mindteck has launched two innovative systems: IGNITE, an Energy Management System which transforms office buildings into energy efficient smart buildings and ProdXL, an Enterprise Productivity Improvement Solution designed to provide insightful quantitative feedback to drive employee behavior towards organization productivity improvement.
Commenting on the financial performance, Yusuf Lanewala, Chairman & Managing Director said, “We are very pleased to announce that Mindteck is on a growth trajectory. There is a significant growth in the yearly revenue, operating margin and profitability.”
