Mastek announced a sharp rise in consolidated net profit for the quarter ended June 2015. During the quarter, the profit of the company rose 5.21 times to Rs 44.30 million from Rs 8.50 million in the same quarter last year.
Revenues for the quarter declined 39.64% to Rs 1,333.40 million, compared with Rs 2,209.00 million for the prior year period.
Total expenses as a percent of revenues decreased to 94.93 percent from 102.86 percent in the same period last year. This has led to an improvement of 793 basis points in operating margin to 5.07 percent.
Operating margin for the quarter stood at positive 2.86 percent as compared to a negative 2.86 percent for the previous year period.
Operating Income for the quarter was 67.60 million, compared with an operating loss of 63.10 million in the previous year period.
Earnings per share for the quarter stood at Rs 1.79, registering 4.84 times growth over previous year period.
The company added 5 new clients during Q1FY16. Total client count as of Jun. 30, 2015 was 69 (LTM) including clients of Indigo Blue Consulting acquired during the quarter.
Mastek's 12-month order backlog was Rs 2.12 billion (USD 33.4 million) as on Jun. 30, 2015 and in constant currency stood at Rs 1.97 billion (USD 34.0 million) as compared to Rs 2.15 billion (USD 34.4 million) at the end of Q4FY15.
The company had a total of 1,349 employees, of which 918 employees were based offshore in India while the rest were at various onsite locations outside India. The company's billable utilization stood at 80.4% during the quarter.
| Quarterly Results - Consolidated (Rs in mn) |
| As at | Jun - 15 | Jun - 14 | %Change |
| Revenues | 1,333.40 | 2,209.00 | (39.64) |
| Net Profit | 44.30 | 8.50 | 421.18 |
| Diluted EPS | 1.79 | 0.37 | 383.78 |
Shares of the company declined Rs 3.7, or 1.89%, to trade at Rs 191.60. The total volume of shares traded was 40,159 at the BSE (1.17 p.m., Friday).
