Mastek Ltd announces strong outlook

During the period under review, the Company has been able to expand its relationships with existing clients, create a robust opportunity pipeline, and remain focused on its growth strategy of leveraging its accumulated experience and strengths in select verticals. In view of the manner in which the Company has been able to increase its presence in the US and deliver a healthy performance in the UK and other markets, the growth outlook is strong.

For the April-June 2007 quarter, Mastek expects its consolidated revenues to reflect the discontinuation of contribution from the DC JV and be in the range of Rs 196 to Rs 200 crore. Net profit after tax and minority interest is likely to be in the range of Rs 23 to Rs 24 crore.

The long-term outlook is even better, as the company implements its verticals-led strategy which should translate into productivity gains and margin upsides.

The stock closed the day at Rs.306.90, up by Re.0.60 or 0.20%. The total traded quantity was 172801 shares compared to 2 week average of 21086.

Source : Equity Bulls

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