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.
Anand Rathi Report
Mastek Ltd. had a decent quarter: $72 million revenue, up 2.6% QoQ (3.9% cc), 31% YoY.
Cross-currency headwinds were higher due to U.K. dependence. U.K. government business was slow in Q2 (down 1.8% QoQ) but has started seeing more orders.
U.S. registered second quarter of growth (up 35% YoY) and its highest revenue. Looking to grow and accelerate through M&A.
The 19.2% Ebit margin (down 77bps QoQ, up 89bps YoY) is likely to erode due to rising wages and SG&A investments.
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