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Mastek group Q1 net leaps 271%

Oct. 9: The Mastek group today announced a 271 per cent rise in net profit for the first quarter ended September 30. Net profits rose to Rs 15.25 crore from Rs 4.11 crore a year ago.

The group also announced a total income of Rs 91.63 crore against Rs 63.95 crore, a growth of 43 per cent over the same period last year. The total income in the immediate preceding quarter ended June 30 stood at Rs 90.05 crore while net profit was placed at Rs 20.43 crore.

On the other hand, Mastek Ltd posted a net profit of Rs 10.2 crore for quarter compared with Rs 1.62 crore for the quarter ended September 30, 2001. Total income of the company increased from Rs 19.81 crore for the quarter ended September 30, 2001 to Rs 34.16 crore in the quarter ended September 30, 2002.

Exide sales rise 9%

Exide Industries today unveiled a 9.4 per cent growth in its gross sales in the second quarter of the current financial year. The growth in sales was accompanied by a near 18 per cent increase in net profit.

Exide chairman S. B. Ganguly said the company had “shaken off last year’s blues” and the management was optimistic of further growth in the rest of the year. Exide earned close to Rs 272 crore from sales during the last three months compared with Rs 248.5 crore in the corresponding period of the last fiscal. Its net profit during the quarter was Rs 14.43 crore as against Rs 12.25 crore last year.

MphasiS net up 33%

MphasiS BFL has posted a 33 per cent rise in net profit for the second quarter ended September 30 to Rs 15.21 crore on a turnover of Rs 49.18 crore, a 14.5 per cent year-on-year growth over the corresponding quarter last year. MphasiS said during the quarter under review, the financial services business, which contributed 26 per cent to the turnover, grew 101 per cent, the retail, logistics and transportation business, which contributed 43 per cent, grew by 18.8 per cent.

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