Mastek is a publicly held (NSE: MASTEK; BSE: 523704) leading IT player with global operations providing enterprise solutions to insurance, government, and financial services organizations worldwide. With its principal offshore delivery facility based at Mumbai, India, Mastek operates across North America, Europe, and Asia Pacific regions. Incorporated in 1982, Mastek has investments in creating intellectual property, which along with proven methodologies and processes, increase IT value generation to its customers through onsite and offshore deliveries.
Review of financial performance for the quarter ended 30th June 2012
On a quarter-on-quarter basis:
- The operating revenue was Rs 210.5 crore during the quarter under review as compared to Rs 185.2 crore during the sequential previous quarter reflecting an increase of 13.7% in rupee terms and 5.3% in constant currency terms. The growth as compared to corresponding quarter in the previous year is 45.2%
- Total income was Rs 217 crore during the quarter under review as compared to Rs188.3 crore during the sequential previous quarter reflecting an increase of 15.2% in rupee terms.
- Strong operating performance and year end adjustments on incentives helped the company post a higher EBITDA of Rs 29.6 crore (13.6% of total income) compared to Rs17.6 crore (9.4% of total income) in Q3FY12. EBITDA in the corresponding quarter of the previous year stood at Rs 1.1 crore (6.9% of total income).
- Net profit stood at Rs 22.2 crore in Q4FY12 as against Rs 7.1 crore in Q3FY12, up 215.6% sequentially and as compared to a loss of Rs. 7.7 crores in the corresponding previous quarter.
- The product development spends during the quarter was Rs 10.3 crore as compared to Rs 12.2 crore in Q3 FY12.
For the full year ended June 30th 2012:
- The operating revenue was Rs 724.2 crore as compared to Rs 594.1 crore in the previous year reflecting an increase of 21.9% in rupee terms. In constant currency the annual growth is 11%
- Total income was Rs 739.1 crore for the FY12 ended 30th June 2012 as compared to Rs 614.2 crore in the previous year; an increase of 20.3%
- The Company posted an EBITDA of Rs 41.2 crore (5.6% of total income) as compared to Rs 1.6 crore (0.3% of total income) in the previous year.
- The company turned profitable with a marginal net profit of Rs 0.5 crore for FY12 as against Net loss of Rs 55.9 crore in the previous year.
- The product development spends during the year was Rs 44.9 crore as compared to Rs 39.8 crore in FY11.
The company improved its cash position, ending the year with Rs 137.8
crore as compared to Rs 129 crore at the end of the previous quarter
ended March 31st 2012.
ITS A TURNAROUND STORY . IT'S DEBIT FREE COMPANY .HAVING 140 Rs.BOOK VALUE
MCAP OF THE COMPANY 320CR. CONSOLIDATED PROFIT FOR THIS QUARTER IS AT 22.25CR . IT HAS 250CR CASH IN BOOKS . WHICH IS RELATIVELY CHEEP AT C.M.P 121.50
BUY ON EVERY DECLINE .FOR A TARGET PRICE OF 200 IN NEXT 3 MONTHS
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