Micro Technologies (India) Ltd. reported impressive financial performance for the first quarter ending on June, 30, 2008. The company reported consolidated net income of Rs 66.76 crore, an increase of 93% over the corresponding quarter in the previous year. Consolidated net profit for the quarter at Rs 18.30 crore reported a sharp increase of 74%. Consolidated earnings per share for the quarter at Rs 16.67 were up by 66%. On a standalone basis, net income at Rs 57.76 crore grew by 67% while the standalone net profit at Rs 17.44 crore grew by 65%. The top line growth was driven by strong sales reported in security and messaging segment.

“Our continuous innovation, prompt time to market and repeat sales ensured healthy performance for the just concluded quarter. Our security and tracking products portfolio is steadily growing and we have strong product pipeline which will help us to continue the growth momentum. On margin front too, due to improved efficiency and effective marketing, things can only get better,” said Mr. Ganapathy V., Head Business Intelligence, Micro Technologies. It may be noted that recently micro Technologies won the Dun & Bradstreet – ECGC – Indian Exporters’ Excellence Award. Dun & Bradstreet, the world’s leading provider of global business information, knowledge and insight, in association with Export Credit Guarantee Corporation of India Ltd (ECGC) announced the ‘D&B – ECGC Indian Exporters Excellence Awards’ to recognize the contribution of the Exporters to the Indian economy.

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