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Our Bureau

Mumbai , Oct. 11

Mastek Ltd has reported a 42 per cent increase in net profit to Rs.17.9 crore from Rs.12.6 crore for the quarter ended September 30.

Net income has gone up from Rs 87.1 crore to Rs 124.1 crore in the current quarter.

Mastek Group, the parent company, logged a 41 per cent increase in net profit at Rs 21.2 crore for the quarter.

During the quarter, the group's revenues from the European operations grew 42 per cent and US operations by 35 per cent.

Commenting on the results, Mr Jamshed Jussawalla, CFO, Mastek Group, said, "Consequent to our good performance in the US and UK, we could post good quarter results. Our UK operations have grown 7-per cent q-on-q (quarter-on-quarter) and the US operations logged a 9-per cent growth during the same period. I do see a significant up-shift in the next quarter based on a strong pipe-line."

The group expects a net income of Rs 204 crore-209 crore and net profit Rs 22.5 crore for the next quarter (October - December).

Shares of Mastek Ltd traded at Rs 369.85, up by Rs 13.15 or 3.69 per cent, on the BSE on Wednesday.

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