Mastek hits new high on healthy June quarter results

In the past six months, Mastek's market price has more than doubled as against a 4.6 per cent rise in the S&P BSE Sensex

Shares of Mastek rose 4 per cent to hit a new high of Rs 2,600 on the BSE in Tuesday's intra-day trade as the firm reported a healthy set of June quarter (Q1FY22) numbers. The company’s dollar revenues increased 6.5 per cent quarter-on-quarter (QoQ) to $70.2 million. In constant currency terms, revenue grew 4.3 per cent. Rupee revenue increased 6.9 per cent QoQ to Rs 516.5 crore.

Ebitda (earnings before interest, taxes, depreciation, and amortisation) margins were flat QoQ at 21.8 per cent. Profit after tax (PAT) increased 14.4 per cent QoQ to Rs 69.3 crore. The management said despite an