Mindteck Q2 revenue up 22% at Rs 68 cr

Mindteck (India) today announced its financial results for the second quarter ended on September 30, 2010. According to a company release, the consolidated revenues stood at Rs 68.81 crore for the quarter, as against Rs 55.96 crore during the corresponding previous quarter ended September 30, 2009. The revenues were up by 28 per cent in dollar terms and by 22 per cent in rupee terms.

The net profit for the quarter was Rs 3.28 crore, as against Rs 0.52 crore in the corresponding quarter in the previous year, registering a six-fold increase, said the release. The company registered operating profit (EBITDA) of Rs 4.76 crore as compared to Rs 1.78 crore in the corresponding period last year.

Commenting on the financial performance of the second quarter, Pankaj Agarwal, CEO and managing director said: “Mindteck has had a good second quarter and I am confident in our ability to continue delivering good results. Our renewed focus on select key industry verticals has resulted in significant successes. The momentum continues as we see progressively more growth and stability.”