/ Mastek Rallies For 4th Consecutive Day, Makes New 52 Week High ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 18 January 2017

Rallying for the fourth consecutive session, stocks of Mastek ltd. have broken and made a new 52 week high on Wednesday morning. Reportedly, the company has witnessed 45.5% increase in net profit QoQ to Rs 11.2 crore.

The stock has made a high of Rs 197.4 per share, up about 3.30% on BSE. The stock has already gained over 10 % in three trading sessions.
While, the revenue was flat in comparison with its previous quarter, operating profits have increased substantially due to reduced employee and other costs. The Management is aiming at further margin expansion.

The company has improved its employee utilisation by 90 basis points sequentially to 82.40%, preceded by a drop in its number of employees to 1300 from 1317 QoQ. At the same time, the company has added about eight new clients during the quarter, and with this they have a total of 87 clients on a TTM basis. On the expansion front, during the last quarter, the Company has also acquired the Indian and international units of Trans American Information Systems.

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