Mastek Ltd reports rise in Q2FY22 consolidated PAT to Rs. 72.29 crore

The Board of Directors of Mastek Limited, at its meeting held today have approved the unaudited Consolidated financial results of the company for the period ended September 30, 2021.

For the quarter ended September 30, 2021(Q2 FY2022), the company's total income was ₹ 541.64 crore, against ₹413.80 crore in the corresponding quarter of the previous year (YoY) and ₹521.17 crore in previous quarter (QoQ).

For the quarter ended September 30, 2021(Q2 FY2022), the company's net profit / (loss) was ₹72.29 crore, against ₹50.95 crore in the corresponding quarter of the previous year (YoY) and ₹69.30 crore in previous quarter (QoQ).

For the quarter ended September 30, 2021(Q2 FY2022), the company's Earnings Per Share (EPS) was ₹26.92, against ₹19.75 in the corresponding quarter of the previous year (YoY) and ₹26.42 in previous quarter (QoQ).

Financials	Q2 FY2022	Q1 FY2022	QoQ % Change	Q2 FY2021	YoY % Change
Total Income	₹ 541.64 crs	₹521.17 crs	3.93%	₹413.80 crs	30.89%
Net Profit	₹72.29 crs	₹69.30 crs	4.31%	₹50.95 crs	41.88 %
EPS	₹26.92	₹26.42	1.89%	₹19.75	36.30%

For the 6 Months period ended September 30, 2021(Half Year Ended FY 2022), the company's total income was ₹1062.81 crore, against ₹816.56 crore in the previous year (YoY) (Half Year Ended FY 2021).

The net profit / (loss) was at ₹141.59 crore for the 6 Months period ended September 30, 2021 (Half Year Ended FY 2022), compared to ₹91.38 crore in the previous year (YoY) (Half Year Ended FY 2021).

The Earnings Per Share stood at ₹53.45 for the 6 Months period ended September 30, 2021 (Half Year Ended FY 2022), against ₹35.57 in the previous year (YoY) (Half Year Ended FY 2021).

Financials	Half Year Ended FY2022	Half Year Ended FY2021	% Change
Total Income	₹1062.81 crs	₹816.56 crs	30.16%
Net Profit	₹141.59 crs	₹91.38 crs	54.95%
EPS	₹53.45	₹35.57	50.27%

Commenting on the Q2FY22 results, Hiral Chandrana, Global Chief Executive Officer, Mastek Group, said: "We continue to demonstrate sustained growth across geographies and industry sectors. I am pleased with our expansion in Fortune 1000 clients in Americas and increasing deal sizes in our pipeline. As an organization, we have made progress on our Vision 2025, strategic priorities and big bets that will drive accelerated growth in digital & cloud services over the next 3 years. We will continue to invest on our talent and our Mastekeer experience. As we shape the future in partnership with our clients, we will stay focused on delivering business outcomes & solutions, living the trust with stakeholders and innovating with disruptive technologies to drive time to value."

Arun Agarwal, Global Chief Financial Officer, Mastek Limited, said: "Q2FY22 has been another quarter of consistent financial performance. We reported Rs 533.9 crore revenue, reflecting a growth of 30.3% on Y-o-Y basis, demonstrating the strong fundamentals of our business. Despite increase in costs due to salary hikes and investments in sales & marketing, we have been able to maintain healthy operating EBITDA margin at 21.1%. We are confident that with refreshed focus towards new age practices and strategic investments, we are well placed to sustain the growth momentum, create values for our customers and maximize value for our shareholders."

Shares of Mastek Limited was last trading in BSE at Rs. 3413.40 as compared to the previous close of Rs. 3315.85. The total number of shares traded during the day was 49950 in over 8417 trades.

The stock hit an intraday high of Rs. 3666.00 and intraday low of 3250.00. The net turnover during the day was Rs. 172891065.00.

Source : Equity Bulls

Keywords

Mastek Q2FY22 H1FY22 ResultUpdate