Mastek Q2 net rises to Rs 16.94 cr, interim at Rs 3 per share

Mumbai, Jan 11 (UNI) Mastek Ltd has posted a net profit of Rs 16.94 crore for the quarter ended December 31, 2006 as compared to Rs 8.81 crore for the quarter ended December 31, 2005.

Announcing the results, the company said its total income has increased from Rs 94.26 crore for the quarter ended December 31, 2005 to Rs 128.50 crore for the quarter ended December 31, 2006.

As per the Consolidated Results, the Group has posted a net profit after tax and minority interest of Rs 21.84 crore for the quarter ended December 31, 2006 as compared to Rs 16.17 crore for the quarter ended December 31, 2005. Total Income has increased from Rs 175.15 crore for the quarter ended December 31, 2005 to Rs 209.76 crore for the quarter ended December 31, 2006.

Commenting on the results, Mr Sudhakar Ram, Chief Executive Officer of the Company said,''While revenues and profits have been in line with expectations, I am quite pleased with the significant expansion of our order book during this quarter. We have added four insurance accounts and 5 major engagements with existing customers.'' Meanwhile, the Board of Mastek at its meeting held today declared an Interim Dividend of Rs 3 per equity Share for the financial year 2006-2007.

Further the Company has informed that Mr Amit Shah has been appointed as an Additional Director of the Company.

UNI