Mastek Q4 net up 83% at $ 2.87 M

By agencies   |   Friday, 22 July 2005, 07:00 Hrs
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MUMBAI: Aided by a good delivery track record and revenue growth, Mastek Ltd has reported substantial growth in net profit for both the fourth quarter as well as the year ended June 30, 2005.

Net profit for the quarter amounted to $2.87 million against $1.56 million reported during the corresponding quarter of the previous year, showing a growth of 83 percent.

Total income rose by 125 per cent, to $19.4 million up from $8.62 million.

Commenting on the business outlook Ashank Desai, Chairman, said, "In the last year, we have made significant progress in our position as a solutions company that can deliver large and complex projects. Our delivery track record has been very good, and we have had good revenue growth in the most of the client accounts that rely in us for their strategic software needs.

"Our record annual revenue and profits, commendable UK performance, moving up on industry ranking and predictable performance in the whole year are pointers towards the same."

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