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Mastek 1QFY2000 net leapfrogs 689% - Views on News from Equitymaster
 
 
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  • Oct 13, 1999

    Mastek 1QFY2000 net leapfrogs 689%

    Mastek's 1QFY2000 revenues surged ahead by 83%, while net profit zoomed up by 689%. This was reported by a leading financial daily.

    Mastek is among the top 10 software exporters in the country. Over the years, it is has got acclaim for its software development capabilities and now focuses mainly on client-sever projects and e-commerce areas. It has wholly-owned subsidiaries in USA, UK, Germany, Malaysia and Singapore.

    Mastek's impressive net profit growth is attributed to reduction in losses in the South East Asian region and improved performance in the US and European markets.

    Market view:
    Analysts have upgraded Mastek's net profit and revenue forecasts for FY2000 after its improved performance in 1QFY2000. They have rerated the stock as a 'BUY' given Mastek's strengths in software development, minimal exposure to Y2K business (less than 2% of FY99 revenues) and robust earnings growth.

     

     

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