 "Mastek dips on disappointing Q4 results")
Shares of Mastek has dipped 6% to Rs 410 on the National Stock Exchange (NSE) after reporting a 26% quarter on quarter (QoQ) decline in its consolidated net profit at Rs 6.44 crore for the fourth quarter ended March 2015 (Q4). The information technology (IT) company had registered a profit of Rs 8.70 crore in December 2014 quarter.
Income from operational grew 2.7% QoQ at Rs 276 crore, while total expenditure increased by 5.4% at Rs 271 crore on sequential basis, Mastek said in a statement.
The stock opened at Rs 439 and hit a low of Rs 400 on the NSE. A combined 846,625 shares changed hands on the counter on the NSE and BSE till 1424 hours.
Income from operational grew 2.7% QoQ at Rs 276 crore, while total expenditure increased by 5.4% at Rs 271 crore on sequential basis, Mastek said in a statement.
The stock opened at Rs 439 and hit a low of Rs 400 on the NSE. A combined 846,625 shares changed hands on the counter on the NSE and BSE till 1424 hours.