Mastek gained 10.92% to Rs 229 at 10:05 IST on BSE, even as the company posted 17.06% fall in net profit to Rs 26.15 crore in Q1 September 2008 over Q4 June 2008.
The stock hit a high of Rs 229 and a low of Rs 210 so far during the day. The stock has a 52-week high of Rs 419 on 12 October 2007 and a 52-week low of Rs 193 on 10 October 2008.
The company’s current equity is Rs 13.81 crore. Face value per share is Rs 5.
The current price of Rs 229 discounts the company’s Q1 September 2008 annualized EPS of Rs 38.88, by a PE multiple of 5.89.
Mastek’s net sales fell 1.31% to Rs 156.74 crore in Q1 September 2008 over Q4 June 2008.
The company’s net profit surged 54.28% to Rs 26.15 crore on 11.8% increase in net sales to Rs 156.74 crore in Q1 September 2008 over Q1 September 2007.
Mastek said it it expects to deliver 32% to 34% growth in total income in rupee terms in the year ending June 2009. The company also said the impact of the prevailing macroeconomic environment on it is expected to be limited given that it derives most of its revenue from relatively stable verticals.
Mastek said its 12-month order book grew 11% to Rs 505 crore as of 30 September 2008.
On 6 October 2008, Mastek’s overseas unit MajescoMastek implemented STG billing and accounts receivable solution at Farmers Alliance Companies of Kansas in US.
Mastek is an information technology (IT) player with global operations providing enterprise solutions to insurance, government, and financial services organizations worldwide.
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