Mastek Q4 results out, stock surges by 10 %

Following the announcement of strong Q4 results, the stock of the IT major, Mastek, starkly rose by 10 per cent on the bourses. While, the net profit of the company increased on a quarterly basis by 28.7 per cent, from Rs 11.2 crore in Q3FY17 to Rs 14.5 crore in Q4FY17. Net profit on a yearly basis also hiked to Rs 36.9 crore for FY17 from a Rs 13.7 crore in FY16.

Furthermore, a growth of 46.3 per cent was witnessed in the EBITDA of the company in the current quarter, increasing from Rs 15.5 crore in Q3FY17 to Rs 22.6 crore in Q4FY17. The EBITDA rose by 75.9 per cent on a yearly basis too.

Showcasing a tremendous growth trajectory, Mastek also posted a quarterly rise in its total income by 42.4 per cent from Rs 128 crore in Q3FY17 to Rs 182.2 crore in Q4FY17. Meanwhile, a rise of 5.1 per cent was posted in the total income of the company on a yearly basis, increasing from Rs 544.3 crore in Q3FY17 to Rs 527.2 crore in Q4FY17.

As on April 21, 2017 at 13:18 hrs IST, Mastek stood at Rs 263, up by 10.15 per cent on the BSE.