Mastek - Healthy Operating Performance Continues In Q3: ICICI Direct
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Mastek - Healthy Operating Performance Continues In Q3: ICICI Direct

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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.’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).

Click on the attachment to read the full report:

ICICI Direct Mastek Company Update.pdf

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