BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Mastek Ltd. reported 3.7% QoQ growth in constant currency term while dollar revenue came in at $73.6 million, a growth of 2.2% QoQ. In rupee terms, revenue came in at Rs 557.7 crore, a growth of 3% QoQ.
In terms of geographies, UK market (66% of mix) have shown some rebound after a decline in the last quarter wherein it grew by 2.3% QoQ while U.S. market which shown strong growth in the last quarter was moderated at 5.1% QoQ.
In terms of verticals, government sector (38% mix) grew by 4.7% QoQ while health grew by 17% QoQ. Retail/financial services reported decline of 7.5%/6.9% QoQ respectively.
Mastek indicated growth in UK market was impacted by softness at the private side of the business, while government side, there was a steady growth.
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