Bangalore-based, Mindteck (India) Limited (BSE: MDTK), a global technology and IT Services company, today announced its financial results for the year ended March 31, 2010.
Company’s consolidated revenues stood at Rs 226.54 crore for the year ended March 31, 2010; net profit after tax was Rs 3.35 crore and EPS for the financial year was Rs 1.38.
The consolidated revenue during the corresponding previous year ended March 31, 2009 was Rs 282.14 crore; net profit after tax was Rs 10.98 crore and EPS reported was Rs 4.57. EBIDTA on a consolidated basis for FY09-10 stood at Rs 10.53 crore as compared to Rs 17.95 crore reported in corresponding year.
Commenting on the financial performance of the company, Pankaj Agarwal, CEO and Managing Director of Mindteck said, “Though recent events have presented us with challenges, we’re excited about the immense potential ahead and confident of delivering a strong growth story in the coming years. This year we took steps toward strengthening our organization to forge more meaningful outcomes for our shareholders, employees and clients alike. More than ever, we’re on pace for realizing our full potential.”
Key highlights of the year
* Mindteck garnered more credentials this year, ranking amongst the fastest growing technology firms in Deloitte Technology Fast 500 Asia Pacific 2009 and Deloitte Technology Fast 50 India 2009 for the second consecutive year.
* Strengthened the senior leadership team
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* Increased focus on Human Resource Management, including staffing up with exceptional talent across a variety of expertise areas and implementing a review system designed to attract, retain and spur talent
* Devised an innovative ‘best shore delivery model’ in order to provide customers with a mix of on-site, off-shore, offshore-onsite, and other hybrid delivery options across geographies
* Established Practice Groups for our IT, Infrastructure Management and Engineering service offerings
* Invested in building Solution Accelerators that are ready-to-deploy and reusable, and are backed by company’s engineering excellence and strong domain expertise
* Launched a number of new technology initiatives, including:
iPhone apps and games
Smart Energy management solutions
Windows 7-based Multi-Touch solution
Enterprise mobility solutions
Virtualization ROI calculator
About Mindteck
Mindteck is a global Technology and IT Services Company that delivers business and technology solutions to a wide range of Fortune 500 companies, multinationals, and successful mid market enterprises around the globe. It has offices and development centers in India, USA, UK, Germany, Netherlands, Singapore, Malaysia, and Bahrain. Mindteck is a provider of end to end full scale IT Services, IT Infrastructure, Security and Managed Services, and Product Engineering Services.
Mindteck (India) Limited is listed on the Bombay Stock Exchange (BSE 517344). It is an ISO 9001:2000, ISO 27001:2005, ISO 13485 certified, and a SEI CMMi Level 5 assessed Company.