Mastek disclosed a substantial drop in standalone net profit for the quarter ended March 2014. During the quarter, the profit of the company declined 77.61% to Rs 20.40 million from Rs 91.10 million in the same quarter last year.
Net sales for the quarter rose 11.09% to Rs 1,501.20 million, compared with Rs 1,351 million for the prior year period.
Earnings per share for the quarter stood at Rs 0.84, registering 76.86% decline over previous year period.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Mar - 14 | Mar - 13 | %Change |
| Net Sales | 1,501.20 | 1,351.30 | 11.09 |
| Net Profit | 20.40 | 91.10 | (77.61) |
| Basic EPS | 0.84 | 3.63 | (76.86) |
Shares of the company declined Rs 5.35, or 2.69%, to settle at Rs 193.75. The total volume of shares traded was 158,859 at the BSE (Wednesday).
