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Mastek Q4 consolidated net profit jumps 41%

  IT company Mastek on Tuesday reported around 41 per cent jump in its consolidated profit after tax to ₹27.4 crore in the fourth quarter ended March 31, 2019. The company had posted profit after tax of ₹19.4 crore in the same period a year ago.

The consolidated revenue of Mastek increased by 18.47 per cent to ₹ 274 crore during the reported quarter as against ₹230.8 crore in the corresponding quarter of 2017-18.

For the financial year ended March 31, 2019, Mastek recorded 45 per cent increase in PAT at ₹101.5 crore compared to ₹70 crore in the previous fiscal.

The total income increased by 26.2 per cent to ₹1,058.0 crore for 2018-19 from ₹838.2 crore.

“We continued to remain consistent on revenue growth and margins. The year ended with 26.4 per cent of revenue growth and PAT grew by 45 per cent which validates that clients recognize our differentiated capabilities,” John Owen, Group CEO, Mastek, said in a statement.

The growth was mainly driven by government led contracts in the UK and retail business in the US.

“We also proposed a final dividend of ₹ 5 per share in fourth quarter of fiscal year 2019, taking the total dividend for the year to ₹ 8.5 per share,” Abhishek Singh, Group CFO, Mastek, said.

Shares of Mastek closed at ₹467.65, up 0.9 per cent from its previous close on the BSE today.

Source: The Hindu