MROTEK reports lower turnover, profits for 2006-07

Bangalore, May 23 (UNI) MRO-TEK Ltd, a major provider of networking products and solutions to access every network, today announced a lower turnover of Rs 115 crore for fiscal 2007 with profit after tax dipping to Rs 10.7 crore.

Last Fiscal the company had reported a turnover of Rs 144 crore with Profit after Tax being Rs 17.56 crore.

Commenting on the results, Company Chairman and Managing Director Narayanan said that ''the year has been full of challenges and recognising future opportunities''. While it brought in a lot of optimism, the business changed as it went by because of the price pressure he said adding that the company had to change its pricing strategy. recogniing the fact that the topline growth would suffer a setback.

Mr Narayanan said the company would entrench into Banks, financial service companies, manufacturers and retailers who were investing heavily in building technology infrastructure with application specific programs. The demand for Internet access, telecom network, mobile carriers and enterprise network products continue to remain robust. Keeping this in mind, MRO-TEK believed that application specific solutions will enable clients to optimize their network and provide bandwidth based on demand, he added.

UNI