20 Jul 2024

Mastek Shares Fall Amid Slight Dip in Q1 Consolidated Net Profit

Mastek's stock is currently trading at Rs. 2672.40, a decline of 133.50 points or 4.76% from its previous close of Rs. 2805.90 on the BSE.

The stock opened at Rs. 2811.10 and fluctuated between a high of Rs. 2813.70 and a low of Rs. 2672.40. So far, 5358 shares have changed hands.

A BSE group 'A' stock with a face value of Rs. 5, Mastek hit a 52-week high of Rs. 3147.00 on February 16, 2024, and a 52-week low of Rs. 1964.00 on August 4, 2023.

Over the past week, the stock's high and low were Rs. 2990.00 and Rs. 2671.05, respectively. The company's current market capitalization is Rs. 8294.41 crore.

Promoters hold a 36.25% stake in the company, while Institutions and Non-Institutions hold 21.15% and 42.60%, respectively.

For the first quarter ending June 30, 2024 (Q1FY25), Mastek reported a 10.13% decrease in net profit, amounting to Rs. 14.37 crore compared to Rs. 15.99 crore in the same quarter the previous year. However, the company's total income rose by 18.52% to Rs. 117.51 crore for Q1FY25, up from Rs. 99.15 crore in the corresponding quarter of the previous year.

On a consolidated basis, the net profit fell by 2.76% to Rs. 71.50 crore for Q1FY25, compared to Rs. 73.53 crore in the same quarter the previous year. Nonetheless, total income increased by 12.30% to Rs. 817.08 crore for Q1FY25, up from Rs. 727.61 crore in the corresponding quarter the previous year.