Mindteck Reports Financial Results for the Quarter and Six Months Ended September 30, 2024
12.11.2024 - 12:31:08
Business Wire IndiaMindteck (India) Limited (BSE: 517344 and NSE: MINDTECK), the global engineering and technology solutions company with niche knowledge and expertise in the storage, medical device, semiconductor and analytical instrument industries, reported its unaudited Financial Results for the second quarter ended September 30, 2024.
The company’s consolidated revenue for the quarter stood at Rs. 108.23 crore as against Rs. 108.15 crore for the previous quarter ended June 30, 2024 and Rs. 98.47 crore for the corresponding quarter ended September 30, 2023. Consolidated net profit for the quarter stood at Rs. 7.57 crore as against a profit of Rs. 8.11crore (before exceptional item) for the previous quarter ended June 30, 2024, and Rs. 7.41 crore for the corresponding quarter ended September 30, 2023.
Furthermore, YTD consolidated revenue for the six months ended September 30, 2024 stood at Rs. 216.38 crore as against Rs. 191.88 crore for the six months ended September 30, 2023 – a growth of 12.8%. YTD consolidated profit for the six months ended September 30, 2024 stood at Rs. 15.68 crore (before exceptional item) as against Rs. 13.64 crore for the six months ended September 30, 2023 – a growth of 14.9%. The Basic EPS of the company stood at Rs. 4.40 per share for the six months ended September 30, 2024, as against Rs. 4.39 per share for the six months ended September 30, 2023.
The company’s standalone revenue for the quarter stood at Rs. 39.17 crore as against Rs. 41.44 crore for the previous quarter ended June 30, 2024 and Rs. 34.50 crore for the corresponding quarter ended September 30, 2023. Standalone net profit for the quarter stood at Rs. 4.41 crore as against a profit of Rs. 3.86 crore for the previous quarter ended June 30, 2024, and Rs. 4.15 crore for the corresponding quarter ended September 30, 2023.
Furthermore, YTD revenue for the six months ended September 30, 2024 stood at Rs. 80.61 crore as against Rs. 68.92 crore for the six months ended September 30, 2023– a growth of 17.0%. YTD profit for the six months ended September 30, 2024 stood at Rs. 8.27 crore as against Rs. 8.11 crore for the six months ended September 30, 2023. The Basic EPS of the company stood at Rs. 2.60 per share for the six months ended September 30, 2024, as against Rs. 2.57 per share for the six months ended September 30, 2023.
The Chairman of the Board, Mr. Yusuf Lanewala, commenting on the results for the second quarter of the 2025 fiscal, said: “I want to take a moment to reflect on our journey amidst ongoing global economic challenges. Despite facing inflationary pressures, supply chain disruptions, and shifting market dynamics, our company has demonstrated remarkable strength and growth quarter on quarter. Our commitment to innovation and adaptability has allowed us to navigate these turbulent waters effectively and continue our growth trajectory. This success reflects our strategic focus on both operational efficiency and new partnerships that strengthen our market presence.”
Mr. Anand Balakrishnan, the CEO of Mindteck, said: “Our second quarter performance has been marked by strong growth metrics and promising innovation. Through strategic initiatives, we optimized our operations and improved our cost structure, allowing us to maintain healthy margins even in challenging conditions. I want to thank every team member for their excellence, collaboration, and dedication. Moving forward, we are committed to supporting professional growth and fostering an inclusive environment that empowers everyone to thrive. Together, we will drive future success.”
For more information, contact gnana.murthy@mindteck.com.
The company’s consolidated revenue for the quarter stood at Rs. 108.23 crore as against Rs. 108.15 crore for the previous quarter ended June 30, 2024 and Rs. 98.47 crore for the corresponding quarter ended September 30, 2023. Consolidated net profit for the quarter stood at Rs. 7.57 crore as against a profit of Rs. 8.11crore (before exceptional item) for the previous quarter ended June 30, 2024, and Rs. 7.41 crore for the corresponding quarter ended September 30, 2023.
Furthermore, YTD consolidated revenue for the six months ended September 30, 2024 stood at Rs. 216.38 crore as against Rs. 191.88 crore for the six months ended September 30, 2023 – a growth of 12.8%. YTD consolidated profit for the six months ended September 30, 2024 stood at Rs. 15.68 crore (before exceptional item) as against Rs. 13.64 crore for the six months ended September 30, 2023 – a growth of 14.9%. The Basic EPS of the company stood at Rs. 4.40 per share for the six months ended September 30, 2024, as against Rs. 4.39 per share for the six months ended September 30, 2023.
The company’s standalone revenue for the quarter stood at Rs. 39.17 crore as against Rs. 41.44 crore for the previous quarter ended June 30, 2024 and Rs. 34.50 crore for the corresponding quarter ended September 30, 2023. Standalone net profit for the quarter stood at Rs. 4.41 crore as against a profit of Rs. 3.86 crore for the previous quarter ended June 30, 2024, and Rs. 4.15 crore for the corresponding quarter ended September 30, 2023.
Furthermore, YTD revenue for the six months ended September 30, 2024 stood at Rs. 80.61 crore as against Rs. 68.92 crore for the six months ended September 30, 2023– a growth of 17.0%. YTD profit for the six months ended September 30, 2024 stood at Rs. 8.27 crore as against Rs. 8.11 crore for the six months ended September 30, 2023. The Basic EPS of the company stood at Rs. 2.60 per share for the six months ended September 30, 2024, as against Rs. 2.57 per share for the six months ended September 30, 2023.
The Chairman of the Board, Mr. Yusuf Lanewala, commenting on the results for the second quarter of the 2025 fiscal, said: “I want to take a moment to reflect on our journey amidst ongoing global economic challenges. Despite facing inflationary pressures, supply chain disruptions, and shifting market dynamics, our company has demonstrated remarkable strength and growth quarter on quarter. Our commitment to innovation and adaptability has allowed us to navigate these turbulent waters effectively and continue our growth trajectory. This success reflects our strategic focus on both operational efficiency and new partnerships that strengthen our market presence.”
Mr. Anand Balakrishnan, the CEO of Mindteck, said: “Our second quarter performance has been marked by strong growth metrics and promising innovation. Through strategic initiatives, we optimized our operations and improved our cost structure, allowing us to maintain healthy margins even in challenging conditions. I want to thank every team member for their excellence, collaboration, and dedication. Moving forward, we are committed to supporting professional growth and fostering an inclusive environment that empowers everyone to thrive. Together, we will drive future success.”
For more information, contact gnana.murthy@mindteck.com.
About Mindteck
Mindteck is a global engineering and technology solutions company devoted to delivering knowledge that matters to help clients compete, innovate and propel forward along the digital continuum. The company’s legacy expertise in embedded systems, enterprise applications and testing are a powerful complement to competencies in digital engineering, including cloud, IoT and cybersecurity, as well as data engineering services such as AI/ML and analytics. Since its establishment in 1991, Mindteck’s clientele has included top-tier Fortune 1000 companies, start-ups, leading universities, and government entities. The company is publicly traded on the Bombay Stock Exchange (BSE 517344) and the National Stock Exchange (NSE Mindteck).
Founding Member: ‘The Atlas of Economic Complexity’ for the Center for International Development (CID) at Harvard University.
Office Locations: India, United States, Canada, Singapore, Malaysia, Bahrain, Germany and United Kingdom.
Development Centers: Kolkata and Bengaluru, India. Mindteck continues to be compliant to ISO International standards for QMS & ISMS while utilizing CMMI version 2.0 DEV & SVC framework for high maturity engineering & support processes.
Mindteck is a global engineering and technology solutions company devoted to delivering knowledge that matters to help clients compete, innovate and propel forward along the digital continuum. The company’s legacy expertise in embedded systems, enterprise applications and testing are a powerful complement to competencies in digital engineering, including cloud, IoT and cybersecurity, as well as data engineering services such as AI/ML and analytics. Since its establishment in 1991, Mindteck’s clientele has included top-tier Fortune 1000 companies, start-ups, leading universities, and government entities. The company is publicly traded on the Bombay Stock Exchange (BSE 517344) and the National Stock Exchange (NSE Mindteck).
Founding Member: ‘The Atlas of Economic Complexity’ for the Center for International Development (CID) at Harvard University.
Office Locations: India, United States, Canada, Singapore, Malaysia, Bahrain, Germany and United Kingdom.
Development Centers: Kolkata and Bengaluru, India. Mindteck continues to be compliant to ISO International standards for QMS & ISMS while utilizing CMMI version 2.0 DEV & SVC framework for high maturity engineering & support processes.
