The Hindu Business Line : Mastek's Q3 profit up 25.4 pc

The Mastek group has reported a 25.4 per cent rise in net profit for the third quarter ended March 31, 2006. Its net profit amounted to Rs 17.3 crore as against Rs 13.8 crore during the corresponding quarter of the previous year.

Revenues for the quarter rose by 19.6 per cent, to Rs 179.5 crore, up from Rs 150.1 crore.

The distinctive highlight of the quarter was the sharp increase in revenues from the group's US operations which grew by 65 per cent year-on-year, said Mr Jamshyd Jussawalla, Chief Financial Officer at Mastek. The US currently accounts for 20 per cent of group revenues.

Other factors

Two other factors contributed to the company's increased profitability; efficient execution of fixed bill projects which account for 35 per cent of business; and cost containment measures such as efficient utilisation, he said.

Mastek Group's income for the nine months period ended March 31, 2006 was Rs 507.7 croreThe company's guidance for the fourth quarter projects revenues in the range of Rs 181 crore and Rs 186 crore and net profit in the range of Rs 19.5 crore and Rs 20.5 crore.

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