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Mastek, the IT solutions provider has reported a decline of 9 percent in its net profit to Rs 5.86 crore for the March quarter.
It has said in a BSE filing that the company, during the corresponding period of last fiscal, reported a net profit of Rs 6.44 crore.
The total income from operations has also been declined by over 54 percent to Rs 124.25 crore for the quarter under review as compared with Rs 276.11 crore of the same period a year ago.
The Board of the company has accorded the approval for the acquisition of 100 percent stake in Cashless Technologies India Private for Rs 1 lakh and now on completion of necessary formalities, it will be a subsidiary of Mastek.
