Mumbai, April 11: Two mid-level infotech firms — Mastek and iGate Global Solutions — kicked off the earnings season with robust quarter-on-quarter growth in net profits.

While Mastek reported a surge in US operations and an 8.9 per cent growth in sequential quarters in its net profit at Rs 23.8 crore, iGate said its net profits had leapt to Rs 22.6 crore.

Mastek reported a total income of Rs 214.8 crore for the January-March quarter, an increase of 2.4 per cent and 19.7 per cent over the sequentially preceding quarter this year and the year-ago period, respectively. European operations remained stable compared with the sequentially preceding quarter and delivered a growth of 28 per cent over the year-ago period.

For the nine-months ended March 31, revenues were 23 per cent higher at Rs 623.5 crore from Rs 507.7 crore a year ago. Net profit was Rs 66.8 crore, a 38 per cent rise over Rs 48.5 crore in the corresponding nine months last year.

In 2006-07, iGate’s net jumped four fold to Rs 805.1 crore from Rs 635.8 crore in the previous year.

In the fourth quarter, iGate posted a 381 per cent surge in net profit at Rs 22.6 crore against Rs 4.7 crore a year ago. Revenue was Rs 210.1 crore, up 25.5 per cent over Rs 167.4 crore.