 "Mastek hits 52-week high on strong Q3 results")
Shares of Mastek soared 11% to Rs 194, also its 52-week high on the BSE in intra-day trade, after the company reported a strong 46.8% quarter on quarter (Q-o-Q) growth in consolidated net profit at Rs 11.23 crore for the third quarter ended December 31, 2016 (Q3FY17), driven by improvement in operational efficiencies and tax expenses.
IT software Products Company had profit of Rs 7.65 crore in September quarter. It had profit of Rs 79 lakh in Q3FY16.
In rupee term, the operating income was flat at Rs 126 crore and an increase of 6.9% in constant currency terms. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) margin improved 136 basis points to 12.1% in Q3FY17.
“The company has 12-month order backlog of Rs 227 crore in Q3FY17 as compared to Rs 220 crore at the end of Q2FY17,” Mastek said in a press release.
At 03:04 pm; the stock was up 9% at Rs 192 on the BSE. The trading volumes on the counter jumped more than 10-fold with a combined 4.83 million shares changed hands on the BSE and NSE so far.
IT software Products Company had profit of Rs 7.65 crore in September quarter. It had profit of Rs 79 lakh in Q3FY16.
In rupee term, the operating income was flat at Rs 126 crore and an increase of 6.9% in constant currency terms. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) margin improved 136 basis points to 12.1% in Q3FY17.
“The company has 12-month order backlog of Rs 227 crore in Q3FY17 as compared to Rs 220 crore at the end of Q2FY17,” Mastek said in a press release.
At 03:04 pm; the stock was up 9% at Rs 192 on the BSE. The trading volumes on the counter jumped more than 10-fold with a combined 4.83 million shares changed hands on the BSE and NSE so far.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%