Mastek Q4 net profit jumps 41% to Rs 27.4 crore

IT company Mastek Tuesday reported around 41 per cent jump in its consolidated profit after tax to Rs 27.4 crore in the fourth quarter ended March 31, 2019.

The company had posted profit after tax of Rs 19.4 crore in the same period a year ago.

The consolidated revenue of Mastek increased by 18.47 per cent to Rs 274 crore during the reported quarter as against Rs 230.8 crore in the corresponding quarter of 2017-18.

For the financial year ended March 31, 2019, Mastek recorded 45 per cent increase in PAT at Rs 101.5 crore compared to Rs 70 crore in the previous fiscal.

The total income of Mastek increased by 26.2 per cent to Rs 1,058.0 crore for 2018-19 from Rs 838.2 crore.

"We continued to remain consistent on revenue growth and margins. The year ended with 26.4 per cent of revenue growth and PAT grew by 45 per cent which validates that clients recognize our differentiated capabilities," John Owen, Group CEO, Mastek, said in a statement.

The growth of the company was mainly driven by government led contracts in the UK and retail business in the US.

"We also proposed a final dividend of Rs 5 per share in fourth quarter of fiscal year 2019, taking the total dividend for the year to Rs 8.5 per share," Abhishek Singh, Group CFO, Mastek, said.

Shares of Mastek closed at Rs 467.65 apiece, up 0.9 per cent from its previous close on the BSE Tuesday.