Mastek rose 11.70% to Rs 148.45 at 15:31 IST on BSE after consolidated net profit rose 113.7% to Rs 7.7 crore on 3.9% decline in total income to Rs 128.40 crore in Q2 September 2016 over Q1 June 2016.The result was announced during trading hours today, 18 October 2016.
Meanwhile, the BSE Sensex was up 520.91 points, or 1.89%, to 28,050.88.
On BSE, so far 10.26 lakh shares were traded in the counter, compared with average daily volume of 24,591 shares in the past one quarter. The stock hit a high of Rs 153.90 and a low of Rs 133.50 so far during the day. The stock hit a 52-week high of Rs 211.40 on 1 December 2015. The stock hit a 52-week low of Rs 104.70 on 17 February 2016. The stock had outperformed the market over the past 30 days till 17 October 2016, rising 4.98% compared with 3.74% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 0.11% as against Sensex's 0.93% decline.
The small-cap company has equity capital of Rs 11.62 crore. Face value per share is Rs 5.
Mastek's consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 27.3% to Rs 13.80 crore in Q2 September 2016 over Q1 June 2016. EBITDA margin was reported at 10.7% in Q2 September 2016 higher than 8.1% in Q1 June 2016.
The growth was driven by the ongoing operational improvement initiatives, effective expense management and decrease in tax expense, the company said in a release.
Mastek is a publicly held leading IT player with global operations providing enterprise solutions to government, retail and financial services organizations worldwide.
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