Mastek - Healthy Operating Performance Continues In Q3: ICICI Direct
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ICICI Direct Report
Mastek Ltd.’s revenues increased 7.3% QoQ (in constant currency terms) and by 9.1% QoQ (in reported terms) to $60.1 million.
The increase in revenues was led by Evosys acquisition (up 10.5% QoQ) and 8.3% QoQ growth in organic revenues.
Ebit margin expansion of 253 basis points QoQ to 20.8% was mainly led by 40 basis points expansion in gross margins and rationalisation of selling general and administrative expenses.
The company’s 12-month order book was flat QoQ to $129.6 million. The company has reduced debt by $1.2 million (approximately Rs 9 crore).
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