Mastek holds the mast!

Mastek is in the news today after it reported a very strong set of earnings for Q4FY23. This holds more relevance as this good numbers come in at a time when the bigger companies reported very tepid earnings.

The company posted a consolidated revenue of Rs.709 crore, up 7% (QoQ) and on this, its net profit for the quarter came in at Rs.73 crore, up 13%.

EBITDA was up 10% at Rs.125 crore while operating margins rose from 14.3% to 15%.

Analysts say that these earnings were thanks to the orders coming in from the UK Govt, good retail and financial services numbers from UK market, especially NHS and Oracle.

The stock price rose 11% to hit an intrday high at Rs.1758.70 on the back of very strong volumes, jumping up more than 10.5x.