Matesk today reported a 65% increase in net profit at Rs 35 crore for the third quarter ended March 31, 2007 from Rs 21.22 crore (excluding the contributions from Deloitte joint venture) in the corresponding quarter of the last fiscal.
Revenue for the quarter ended March 31, 2008 at Rs 238.9 crore was up 22% from Rs 195.3 crore (excluding Deloitte JV) for the quarter ended March 31, 2007.
If the Deloitte JV numbers are taken into account, the company’s net profit was down 13% from Rs 40.23 crore and revenue was up 11% from Rs 214.79 crore.
According to a release issued by Mastek today, total income, in dollar terms, increased 33% to $59.9 million in the quarter under review from $44.9 million in the corresponding period of the last fiscal. PAT was higher by 80% at $8.8million when compared with $4.9 million.
For the April-June 2008 quarter, Mastek expects consolidated total income (inclusive of other income) to be in the range of Rs 245-250 crore. Net profit after tax and minority interest is likely to be in the range of Rs 37-38 crore.
Sudhakar Ram, chairman and managing director, Mastek, said: "Other than the STG acquisition, we also had two major deals that added to the quarter numbers. Going ahead, for the full year in dollar terms, we are expecting a growth of 38-39%. For the April-June quarter we are expecting a topline of Rs 240-250 crore and net profit in the range of Rs 37-38 crore."
The acquisition of US-based System Task Group (STG) contributed close to Rs 16 core to the topline due to which the company surpassed its own guidance of Rs 220-225 crore. Its net profit, on sequential basis, also crossed the guidance of Rs 29-30 crore.
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