Mastek - Robust Revenue Growth; Healthy Order Book: ICICI Direct
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ICICI Direct Report
Mastek Ltd.’s dollar revenues increased 7.5% QoQ (in constant currency terms) and by 9.7% QoQ (in reported terms) to $65.9 million.
The increase in revenues was led by Evosys acquisition and strong growth in UK government business.
Ebit margin declined 100 basis points QoQ to 19.8% mainly due to wage hike and investment in leadership and sales.
The company’s 12-month order book rose 19.3% QoQ to $154.6 million.
The company has declared a dividend of Rs 9/share.
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