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BSE   11 Dec 17 | 12:00 AM

395.55 3.1 (0.79%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: 523704
Face Value: N.A.

NSE   11 Dec 17 | 12:00 AM

397.15 4.35 (1.11%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: MASTEK
Performance
1 Week : Rs 367.30 (7.69%)
1 Month : Rs 357.30 (10.71%)
1 Year : Rs 150.10 (163.52%)
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Mastek surges as Q2 profit more than doubles

SI Reporter / Mumbai 18 Oct 16 | 02:44 PM

Mastek has soared 16% to Rs 154 on BSE after the company's consolidated net profit more-than-doubled to Rs 7.7 crore for the quarter ended September 30, 2016 (Q2FY17), despite decline in operational income. The information technology (IT) company had registered a profit of Rs 2.7 crore in the year ago quarter.

Total income from operations declined 4.3% at Rs 126 crore in Q2FY17 against Rs 132 crore in Q2FY16.

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The company posted profit of Rs 3.6 crore on revenues of Rs 130 crore in Q1FY17. It recorded constant currency revenue growth of 1.5% on quarter on quarter basis.

EBITDA (earnings before interest, taxes, depreciation, and amortization) margin improved 260 basis points (bps) sequentially and 420 bps over the previous year quarter at 10.7%.

The growth for the quarter was driven by the ongoing operational improvement initiatives, effective cost management and decrease in tax expenses, Mastek said in a statement.

The board has approved payment of interim dividend @ Rs 1 per share (face value Rs 5 per share) (i.e. 20%), which will be paid to the eligible shareholders on or before November 16, 2016.

At 02:41 pm, the stock was up 14% at Rs 151 on BSE, as compared to 1.6% rise in the S&P BSE Sensex. The trading volumes on the counter jumped an over 10-fold with a combined 5.8 million shares changed hands on the BSE and NSE so far.

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