Mastek announces Q2 net profit of Rs.16.94 Crores

Mastek Ltd has announced the following Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net profit of Rs 169.40 million for the quarter ended December 31, 2006 as compared to Rs 88.10 million for the quarter ended December 31, 2005. Total Income has increased from Rs 942.60 million for the quarter ended December 31, 2005 to Rs 1285.00 million for the quarter ended December 31, 2006.

The Consolidated Results are as follows:

The Group has posted a net profit after tax and minority interest of Rs 218.40 million for the quarter ended December 31, 2006 as compared to Rs 161.70 million for the quarter ended December 31, 2005. Total Income has increased from Rs 1751.50 million for the quarter ended December 31, 2005 to Rs 2097.60 million for the quarter ended December 31, 2006.

Commenting on the results, Mr. Sudhakar Ram, the Chief Executive Officer of the Company, said: "While revenues and profits have been in line with expectations, I am quite pleased with the significant expansion of our order book during this quarter. We have added 4 insurance accounts and 5 major engagements with existing customers."

Source : Equity Bulls

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