Mastek Ltd's net loss for the second quarter ended December 2011 narrowed both sequentially and from a year ago on improved operating performance and depreciation of the rupee.
Net loss for the quarter shrank to Rs 1.5 crore, from Rs 26 crore in the same year ago quarter, and from Rs 27 crore in the September 2011 quarter.
Operating revenue rose 11.3 per cent sequentially, to Rs 172.9 crore (Rs 155.3 crore). In constant, currency terms revenue growth would be 2.6 per cent, said the company.
EBITDA turned positive, at Rs 5.6 crore, from a negative Rs 11.7 crore.
The company said it added four new client accounts during the quarter, and that its 12-month order backlog stood at Rs 369 crore.
Mr Sudhakar Ram, Chairman and Group CEO, Mastek, said: “We have had a good quarter on the back of definitive traction that we have been experiencing as far as the deal flow is concerned since the last quarter. This combined with our operational efficiency measures has enabled the company to post a positive operating margin reflecting the steps that we have been taking to stem the slide of the last 12 months.”
“However, we continue to be cautious of the global environment and particularly the UK market which is one of our focus geographies. While we are seeing a pipeline of opportunities, any further deepening of the current European crisis could have an impact on the performance of the company,” he said.