Software services firm Mastek’s consolidated net profit almost tripled to Rs 20.3 crore in third quarter ended March 31, compared with Rs 7.5 crore recorded during the same period a year ago.
The company’s total income rose to Rs 229.51 crore during the quarter under review, compared with Rs 186.65 crore recorded during the same period of previous fiscal, Mastek said in a statement.
Mastek, which follows a July-June financial year, said its product development spends during the quarter stood at Rs 10.1 crore, compared with Rs 9.6 crore recorded during the sequential quarter.
The Mumbai-based firm added six new clients during the quarter under review, increasing the total number of clients to 118 as of March 31.
The company’s 12-month order backlog stood at Rs 478 crore ($89 mn) and at Rs 499 crore in constant currency terms. The order backlog stood at Rs 538 crore ($98 mn) as of December quarter end.
The company also ended the year with a cash position of Rs 159 crore after completion of Rs 36 crore share buyback programme.