You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Mastek spurts after Q4 PAT rises 8% QoQ

Capital Market 

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.

Powered by Capital Market - Live News

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

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