Mastek Q3 falls 70 per cent QoQ, shares fall over 5%

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New Delhi | January 14, 2016 4:33 PM

Mastek shares fell as much 9.89 per cent intraday on Thursday after the company posted 70 per cent quarter-on-quarter fall in its consolidated net profit figures for the quarter ended December 2015.

mastek shares, sensex, nifty, mastek q3 resultMastek shares fell as much 9.89 per cent intraday on Thursday after the company posted 70 per cent quarter-on-quarter fall in its consolidated net profit figures for the quarter ended December 2015. (Photo: Reuters)

Mastek shares fell as much 9.89 per cent intraday on Thursday after the company posted 70 per cent quarter-on-quarter fall in its consolidated net profit figures for the quarter ended December 2015. The company posted net profit of Rs 0.79 crore against Rs 2.99 crore in the sequential quarter ended September 30, 2015. Net profit of the company fell 90 per cent on year-on-year basis.

Later, the share price of the global software company closed 5.28 per cent down at Rs 158. The scrip opened at Rs 162.60 and touched a high and low of Rs 165.90 and Rs 150.30, respectively, in trade. On the other hand, benchmark index BSE Sensex settled 0.33 per cent down at 24,772.97.

Total income from operations of the company increased by 4.74 per cent qoq to Rs 137.79 crore. The figure was at Rs 268.66 crore in the corresponding quarter a year ago.

The company reported EBITDA of Rs 3.6 crore (2.6 per cent of total income) in Q3FY16 as compared to Rs 8.9 crore (6.5 per cent of total income) in Q2FY16.

The board of directors have also declared an interim dividend of Rs 1.5 per share in the meeting held on January 14, 2016.

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