Mastek plunges even as result meets expectations

DALAL STREET SPIKES

Mastek scrip fell about 10 per cent to Rs 471.95 from Rs 522.50, even as it announced decent growth figures in the first quarter, which had met the market expectations.

The scrip had been moving up since early September 2005 from Rs 419.65 to Rs 522.50 by 11 October 2005 on the eve of the results announcement.

The company's consolidated net profit rose 23.5 per cent in the first quarter to Rs 15.02 crore from Rs 12.16 crore in the corresponding quarter of the previous year.