Its consolidated income from operations was up by 31.5 percent to Rs 244 crore in April-June 2018 quarter as against Rs 185.6 crore in the year-ago period.
IT firm Mastek today reported a 53.2 percent jump in its consolidated net profit to Rs 22.5 crore for the first quarter ended June 30, 2018. The company had posted a net profit of Rs 14.7 crore in the corresponding year-ago period, Mastek said in a BSE filing.
Its consolidated income from operations was up by 31.5 percent to Rs 244 crore in April-June 2018 quarter as against Rs 185.6 crore in the year-ago period.
At the end of June 2018, Mastek had a total of 2,097 employees, of which 1,353 were based in India while the remaining are located at various onsite locations.
"Q1 FY'19 results were in line with our expectations and reflect the process improvements we have made over the past two years. We continue to focus on executing our Vision 2020 strategy," Mastek Group CEO John Owen said.
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Nucleus Software Q1 net jumps 53 percent to Rs 17.59 cr IT firm Nucleus Software today reported a 52.8 percent jump in its consolidated net profit to Rs 17.59 crore for the first quarter ended June 30, 2018.
The company had posted a net profit of Rs 11.51 crore in the corresponding year-ago period, Nucleus Software said in a BSE filing.
Its consolidated income from operations was up by 19.3 percent to Rs 112.61 crore in April-June 2018 quarter as against Rs 94.32 crore in the year-ago period, it added.
"Our relentless focus on leveraging innovative technologies to deliver business value continues to yield results – our Lending Analytics and FinnOne Neo Cloud solutions continue to gain traction in the market," Nucleus Software Managing Director Vishnu R Dusad said.
He added that the company now has 19 customers for its cloud solution.
"Our Innovation Labs are creating innovative business solutions using the latest technologies including artificial intelligence, chatbots and virtual reality. Our digital transformation strategy aligns very well with the strategic direction of banks and other financial institutions," he said.
The company added three new customers in the quarter from various geographies.
StashFin partners with DMI Finance for joint financing facility of Rs 30 cr Digital lending platform StashFin today said it has partnered with non-banking finance company DMI Finance to raise Rs 30 crore for onward lending through its platform StashFin.com.
"Rising first-time borrowers and increasing credit penetration in underserved customer segments combined with the government's thrust for financial inclusion has resulted in rapidly-increasing demand for capital by Indian households," DMI Finance CEO Arindam Das said.
Tushar Aggarwal, founder of StashFin, said the partnership with DMI Finance will further help the company to accelerate its growth and increase its imprint across India.