Mastek is trading higher by 3% at Rs 165 on the BSE after reporting more than double net profit at Rs 15.1 crore for the quarter ended September (Q2) on sequential basis. The mid-cap IT software products company had profit of Rs 7.1 crore in June quarter.
The operating revenue was Rs 237 crore during the quarter under review as compared to Rs 222 crore during the sequential previous quarter reflecting an increase of 6.5% in rupee terms and down 0.8% in constant currency terms, Mastek said in a statement.
The company’s EBITDA margin during the quarter under review improved nearly 400bps to 12.2% from 8.36% over the previous quarter.
Our margins improved with the change in revenue mix. Our insurance business continues to grow and now constitutes almost half our business, said Sudhakar Ram, group CEO and managing director, Mastek.
The stock opened at Rs 164 and touched high of Rs 169 on BSE. A combined around 10,000 shares have changed hands on the counter in early morning deals on BSE and NSE.
The operating revenue was Rs 237 crore during the quarter under review as compared to Rs 222 crore during the sequential previous quarter reflecting an increase of 6.5% in rupee terms and down 0.8% in constant currency terms, Mastek said in a statement.
The company’s EBITDA margin during the quarter under review improved nearly 400bps to 12.2% from 8.36% over the previous quarter.
Our margins improved with the change in revenue mix. Our insurance business continues to grow and now constitutes almost half our business, said Sudhakar Ram, group CEO and managing director, Mastek.
The stock opened at Rs 164 and touched high of Rs 169 on BSE. A combined around 10,000 shares have changed hands on the counter in early morning deals on BSE and NSE.
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