Mastek consolidated Q2 net at Rs 16cr

Mastek today reported a consolidated net profit of Rs 16.17 crore for the second quarter ended December 31, 2005 as against Rs 12.81 crore in Q2FY05.

According to a release issued by the company to the BSE today, total income increased to Rs 175.15 crore in Q2FY06 from Rs 140.10 crore in Q2FY05.

"The figures for the previous periods are not comparable since the company has changed its business model for the UK operations with effect from January 1, 2005. Consequently, the company has started executing on-site projects in the UK which were earlier executed through its subsidiary," the release added.

The board has cleared an interim dividend of Rs 3 per share, the release added.

For the January-March 2006 quarter, Mastek is expecting group income to be in the range of Rs 177-182 crore, and net profit in the range of Rs 16.30-17.30 crore, the release added.