Mastek net up 31%

SCORECARD

Better cost management and higher operational efficiencies helped Mumbai-based IT firm Mastek announce positive second quarter results.

The company's consolidated net profit was up by 31 per cent at Rs 27.10 crore for the second quarter ended December 31, 2007 from Rs 20.68 crore in the corresponding quarter last year.

The company's revenue stood at Rs 211.65 crore, up 17 per cent from Rs 180.96 crore for the same quarter last year.

Sequentially, Mastek's net profit was up 7.9 per cent from Rs 25.12 crore, and the revenue grew 3.6 per cent from Rs 204.20 crore. The company's EBIDTA margins improved from 14.5 per cent to 17.3 per cent.

For the January-March 2008 quarter, Mastek expects its consolidated total income (inclusive of other income) to be in the range of Rs 220 to Rs 225 crore.