MindTree Consulting, an IT services company, has acquired Linc Software Services Pvt Ltd in an undisclosed stock and cash deal. The acquisition was announced by Ashok Soota, MindTree chairman and managing director. He said the two investors in Linc ? ICF and Infinity ? will get cash, and its co-founders part-cash and part-stock. MindTree clocked a revenue of $55 million in 2004-05, while Linc logged $7 million.
Flextronics Software Systems has reported a 40 per cent year-on-year rise in its consolidated net profit for 2004-05 at Rs 107.8 crore. Sales grew 33 per cent at Rs 481 crore. For the fourth quarter ended March 31, the consolidated net profit rose 42 per cent to Rs 30 crore.
Synygy Inc, the US-based enterprise incentive management solutions provider, has earmarked an investment of Rs 50 crore for expansion of its Pune facility and will recruit an additional 150 employees.
Tyre maker JK Industries has posted a 4 per cent rise in sales at Rs 1,071 crore for the first six months ended March 31. Operating profit stood at Rs 46 crore.
Simbhaoli Sugar Mills Ltd?s turnover stood at Rs 509.42 crore for 2004-05 against Rs 338.99 crore in the previous year. The company has posted a profit before tax at Rs 46.80 crore against a loss of Rs 6.37 crore in 2003-04.
TVS Motor Co?s sales in April stood at 92,400 units compared with 81,032 units in the year-ago period. Motorcycles registered a 13 per cent growth at 52,825 units.
Helios & Matheson has posted a 133 per cent leap in net profit at Rs 18.57 crore for the year ended March 31 compared with Rs 7.96 crore in the previous fiscal. Income stood at Rs 122.12 crore.
Neulight Corporation, a US-based organic light emitting diode (OLED) display manufacturer, is planning to set up a design centre in Hyderabad to develop sophisticated OLED panel controllers.
Solaris Chemtech, a Thapar group firm, is charting a Rs 120-crore capacity expansion programme. It also plans to go public by 2008.
McDowell?s No. 1 Celebration rum has crossed the 5-million cases mark in 2004-05, which is a 17 per cent growth over the previous year.
Calcutta Port Trust has installed a standalone Vessel Traffic Management System coupled with Automatic Identification System at Sagar Lighthouse to improve the efficiency of the port pilotage system.
