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Mastek spurts after Q4 PAT rises 8% QoQ

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Mastek jumped 6.34% to Rs 1620 after the company's net profit rose 7.7% to Rs 75.70 crore on a 9.1% increase in revenue from operations to Rs 483.2 crore in Q4 FY21 over Q3 FY21.

In dollar terms, the company's revenue from operations increased 7.5% (constant currency) to $65.9 million in the fourth quarter from $60.1 million in the third quarter in the financial year 2020-21.

Operating EBITDA rose 2% to Rs 106 crore in Q4 March 2021 from Rs 103.9 crore in Q3 December 2020. Operating EBITDA margin was at 21.9% as on 31 March 2021 as against 23.5% as on 31 December 2020.

The company added 45 new clients in Q4FY21. Total client count as of 31 March 2021 was 639 (LTM) as compared to 618 (LTM) in Q3FY21.

The 12-month order backlog was Rs 1,130.40 crore as on 31 March, 2021 compared with Rs 946.7 crore in Q3FY21, reflecting a growth of 19.4% in rupee terms.

Mastek reported 121.2% jump in net profit to Rs 251.7 crore in the year ended 31 March 2021 from Rs 113.8 crore in the year ended 31 March 2020. Revenue from operations increased by 60.7% to Rs 1,721.9 crore in FY21 over FY20.

Commenting on the Q4FY21 results, Ashank Desai, vice chairman and managing director, Mastek, said: "We are pleased to report another robust quarter and fiscal year driven by our continuous focus on cloud and digital transformation services. We have a resilient business model and strong long-term relationship with our customers which is demonstrated in FY21 revenue growth of 60.7% and annual EBITDA Margin of 21.2%.

Evosys proficiency in Oracle cloud migration combined with Mastek's capability to cross-sell digital commerce and transformation services helped us to win some remarkable larger deals during the year. We are witnessing a strong demand acceleration reflected in our record order booking in FY21. With a focus to build new capabilities in cloud and Digital arena we are well poised to capitalize on future growth opportunities."

The board of directors has recommended a final dividend of Rs 9 per share.

Mastek is an enterprise digital transformation specialist. It enables large‐scale business change programmes through its service offerings, which include application development, oracle suite & cloud migration, digital commerce, application support & maintenance, BI & analytics, assurance & testing and agile consulting.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, April 29 2021. 13:38 IST