Earlier than expected ramp-down in the BT/NHS project, non-conversion of some of the deals impacted Mumbai-based IT product and services firm Mastek’s first quarter results ended September 30, 2009. Net profit of the firm was down 35.8 per cent at Rs 26.4 crore from Rs 41.18 crore in the corresponding quarter last financial year. Revenue for the quarter at Rs 191.4 crore dipped 26.8 per cent from Rs 261.6 crore for the same quarter last year.

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On a sequential basis the company’s net profit was down 25.2 per cent from Rs 35.3 crore—and revenue dropped 10.5 per cent from Rs 214.

For the October-December 2009 quarter (Q2 FY2010), Mastek estimates its consolidated total income (which is inclusive of other income) to be in the range of Rs 195 to Rs 205 crore.

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