MRO-TEK Q1 profit up 23%

Our Convergence Bureau
31 July 2003

Mumbai: MRO-TEK Ltd, a leading networking and last-mile access provider, has announced that it has registered a net growth of 34 per cent for Q1 2003. The company's total revenue stood at 20.7 crore as opposed to Rs 15 42 crore clocked in Q1 2002-03. Profits for the same period stood at 1.66 crore, up by 23 per cent for 2003-04.

The break of percentage of revenue earnings from the industry domains is as below:
1. Carriers — 30 per cent
2. System Integrators — 25 per cent
3. Enterprise — 15 per cent
4. Others — 30 per cent

Says MRO-TEK chairman and managing director S Narayanan: "The opportunity for growth in our business is boundless. We are beginning to witness demands growing in the carrier market. Emerging markets such as MAN (metropolitan area network) is another growth opportunity for MRO-TEK."

MRO-TEK continues to dominate the digital modem market with market share of 40 per cent and remain clear market leaders in India.

Adds Narayanan: "The market continues to be challenging with a bag full of promise for future. We believe the momentum is picking up and will witness another boom in demand for last mile products beginning 2004 when most of the ISP's start going live on optic networks."

MRO- TEK is strongly positioning itself to emerge as an ideal solution partner for MAN to LAN network. "Eventually, every home will have high-speed Internet. FCAT series and eSONA series with management will aid the service providers to successfully provide the connectivity between MAN (fibre) and LAN (ethernet). We are already in talks with major carriers and service providers in the country for deployment," says Narayanan.