Mastek Q2 net profit up 37.8% at Rs 81.5 crore

Asia's Tech News Daily

#Business, Mastek, #Results

IT firm Mastek has seen its consolidated net profit grow 37.8 per cent to Rs 81.5 crore for the quarter ended September 30, 2021.

This is against a net profit of Rs 59.2 crore in the year-ago period, the company said in a regulatory filing on late Tuesday night.

Its revenue from operations was up 30.3 per cent to Rs 533.9 crore for the quarter under review from Rs 409.7 crore in the July-September 2020 quarter, it added.

The company added 45 new clients in the second quarter this fiscal, taking its total client count to 649 (LTM) as compared to 651 (LTM) in the first quarter of the financial year 2021-22.

Mastek’s 12-month order backlog was Rs 1,154.3 crore (USD 155.5 million) as of September 30, 2021 as compared to Rs 940.5 crore (USD 127.5 million) in the year-ago period, reflecting a growth of 22.7 per cent in rupee terms and 18.8 per cent in constant currency terms on y-o-y basis.

At the end of the September 2021 quarter, the company had a total of 4,510 employees, of which 3,411 employees were based offshore in India while the rest were at various onsite locations.

We continue to demonstrate sustained growth across geographies and industry sectors. I am pleased with our expansion in Fortune 1000 clients in the Americas and increasing deal sizes in our pipeline.

As an organisation, we have made progress on our Vision 2025, strategic priorities, and big bets that will drive accelerated growth in digital and cloud services over the next 3 years,” Mastek Group Global Chief Executive Officer Hiral Chandrana said.

He added that the company will continue to invest on its talent, and will stay focused on delivering business outcomes and solutions.

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