Mastek today reported a 132% increase in consolidated net profit at Rs 40.23 crore for the third quarter ended March 31, 2007 when compared with Rs 17.31 crore in Q3FY06.According to a release issued by the company to the BSE today, total income increased to Rs 214.79 crore from Rs 179.47 crore for the quarter ended March 31, 2006.The company, on a stand-alone basis, has posted a net profit of Rs 57.33 crore for the quarter ended March 31, 2007 as against Rs 12.29 crore for the quarter ended March 31, 2006. Total income increased to Rs 134.73 crore for the quarter ended March 31, 2007 from Rs 102.26 crore for the quarter ended March 31, 2006.Sudhakar Ram, chairman and managing director, Mastek said: "We have delivered an encouraging operating performance this quarter in line with expectations. I am particularly pleased with the performance of our US operations where our efforts are beginning to deliver noticeable results. We were also able to implement some key strategic initiatives including the appointment of William McCarter as our US operations head and the sale of our stake in the Deloitte Consulting JV."Having achieved strong order booking in the preceding quarter, we resumed our focus on building a robust pipeline and leadership team across all our key markets during the quarter under review, which should serve as a platform for future growth and enable us drive revenue and earnings expansion in the coming quarters."
