Mastek Q3 net up 115%

Software firm Mastek on Monday posted a 114.90 per cent increase in net profit at Rs 12.4 crore (Rs 124 million) for the quarter ended March 31, 2005 compared to Rs 5.77 crore (Rs 57.7 million) in the same quarter in 2003-04.

The total income increased to Rs 89.62 crore (Rs 896.2 million) for the quarter ended March 31, 2005 from Rs 34.26 crore (Rs 342.6 million) in the year-ago period, the company informed the Bombay Stock Exchange.

The consolidated net profit of the group increased 37.32 per cent to Rs 13.76 crore (Rs 137.6 million) in the March quarter against Rs 10.02 crore (Rs 100.2 million) for the corresponding quarter in 2003-04, it said.

The total income of the group rose to Rs 150.11 crore (Rs 1.50 billion) for the quarter ended March 31, 2005 compared to Rs 117.46 crore (Rs 1.17 billion) in the same quarter in 2003-04, it added.