Mastek Clarifies Financial Results Discrepancy Between PDF and XBRL Filings
Mastek Limited clarified a discrepancy in financial results between PDF and XBRL formats. Significant items like foreign currency gains and dividend income were disclosed separately in PDF but grouped under 'Other Income' in XBRL. Total 'Other Income' remains consistent, with no impact on overall financial results.
The clarification addresses a reporting format difference and confirms no impact on the overall financial results, thus having a minimal impact on investors.
The announcement is a clarification of a reporting discrepancy and does not contain new financial performance information or material changes that would warrant a positive or negative sentiment.
Mastek Limited has provided clarification regarding a discrepancy noted in its financial results submission between the PDF and XBRL formats for standalone reporting. The company explained that significant balances in "Gain / (loss) on foreign currency transactions and translations (net)" and "Dividend income from subsidiary" were recorded during the reporting quarter and year-to-date.
To enhance clarity, the management decided to present these items separately on the face of the Profit & Loss Account in the standalone results. However, in the XBRL format, these components were grouped under the consolidated tag of "Other Income," adhering to the taxonomy structure. Mastek confirmed that the total "Other Income" figure remains consistent across both PDF and XBRL formats, with no impact on the overall financial results.
The company provided a table illustrating the amounts, showing for the three months ended March 31, 2025, "Other Income" as ₹332 Lakhs (PDF) and ₹3,152 Lakhs (XBRL), with separate disclosures of ₹708 Lakhs for foreign currency transactions and ₹2,112 Lakhs for dividend income from subsidiary in the PDF. For the year ended March 31, 2025, "Other Income" was ₹1,321 Lakhs (PDF) and ₹7,335 Lakhs (XBRL), with separate disclosures of ₹129 Lakhs for foreign currency transactions and ₹5,885 Lakhs for dividend income from subsidiary in the PDF. The total "Other Income" in both formats was ₹3,152 Lakhs for the quarter and ₹7,335 Lakhs for the year.
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Mastek Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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