The Hindu Business Line : Mastek Q1 income up 30%

A HEALTHY order backlog has led to the Mastek Group recording a total income of Rs 130.5 crore for the first quarter-ended September 30, a 29.5 per cent growth compared to Rs 100.7 crore during the corresponding quarter last year.

Net profit amounted to Rs 12.2 crore for the quarter (July-September) as against Rs 3 crore registered during the same period previous year.

The unaudited results were taken on record at the board meeting held on Thursday. Mastek Ltd improved its performance to earn a net profit of Rs 10.6 crore as compared to a net loss of Rs 92 lakh during the corresponding quarter last year. Total income was Rs 41.15 crore (Rs 24.53 crore).

We have a healthy order back log of Rs 213 crore. We also expect to get new engagements and for this, we are looking at ramping up. We will we be hiring more people," Mr Ashank Desai, Chairman, Mastek Group, told Business Line.

During the quarter, Mastek billed three additional customers with repeat business at 99 per cent. On the BPO front, the Capita Mastek JV is in discussions with a number of business units within Capita Group.

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