Mastek consolidated Q4 net zooms

Mastek posted a 350 per cent surge in consolidated net profit at Rs 12.42 crore for the fourth quarter ended June 2004 compared with Rs 2.76 crore in corresponding quarter last year. Total income rose 29.8 per cent to Rs 118.54 crore from Rs 91.28 crore.

However, for the full year ended June 2004, Mastek's consolidated net profit plunged 41 per cent to Rs 29.57 crore from Rs 50.31 crore in June 2003. Total income has risen 8.2 per cent in FY 2004 at Rs 410.71 crore from Rs 379.39 crore.

Mastek's consolidate performance includes the performance of its subsidiaries in the US, Europe, Japan and Asia-Pacific regions.

On Wednesday, Mastek stock price rose 0.47 per cent to close Rs 275.10, off its day's high of Rs 293.80.

Meanwhile, Mastek has maintained a stable guidance for the next quarter (July-September). On a stand alone basis, Mastek has posted a net profit of Rs 6.87 crore for fourth quarter ended June 2004 against Rs 6.73 crore in corresponding quarter last year. Total income has gone up to Rs 37.96 crore from Rs 31.54 crore.

For the year ended June 2004, the company's net profit slumped to Rs 12.74 crore from Rs 38.08 crore.