MRO-TEK grows by 117% in H1

BANGALORE: The Bangalore-based Net access and networking solutions provider,

MRO-TEK Ltd., has increased its revenues by 117 per cent to Rs 61.60 crore

during the half-year ended September 30, 2000. Profit after tax for the period

shot up by an impressive 294 per cent to Rs 9.81 crore.

MRO-TEK, through its multiple strategic alliances, has marketing rights for

several networking products. Currently, trading accounts for nearly 60 per cent

of its revenues and manufacturing 40 per cent.

MRO-TEK chairman and managing director S Narayanan said, "Performance

for the past few years has been aggressive and consolidating. The company will

focus on offering its expertise and competencies in Net access and leverage

these capabilities to become a one-stop-shop for clients requiring innovative,

cost-effective and customized solutions. MRO-TEK also recognizes that the Middle

East and SAARC countries offer the biggest growth potential in the networking

market due to rapid advancements in wireless and Internet technologies. We will

use the Indian market to customize products and core technologies for these

markets and other similar markets abroad."

MRO-TEK, which posted a turnover of Rs 105 crore for 1999-2000, is expected

to double this in 2000-01. The company raised Rs 238 million through an IPO in

October and became the first Net access and networking solutions firm to be

listed on the BSE, NSE and the BgSE.