Mastek jumped 6.34% to Rs 1620 after the company s net profit rose 7.7% to Rs 75.70 crore on a 9.1% increase in revenue from operations to Rs 483.2 crore in Q4 FY21 over Q3 FY21.
In dollar terms, the company s revenue from operations increased 7.5% (constant currency) to $65.9 million in the fourth quarter from $60.1 million in the third quarter in the financial year 2020-21.
Operating EBITDA rose 2% to Rs 106 crore in Q4 March 2021 from Rs 103.9 crore in Q3 December 2020. Operating EBITDA margin was at 21.9% as on 31 March 2021 as against 23.5% as on 31 December 2020.
The company added 45 new clients in Q4FY21. Total client count as of 31 March 2021 was 639 (LTM) as compared to 618 (LTM) in Q3FY21.
Mastek tanked 9.38% to Rs 1,178.90 after the company said John Owen will relinquish his role as Group CEO on 18 January 2021.Mastek announced that John Owen will be relinquishing his role as group chief executive officer on 18 January 2021 and will be pursuing opportunities outside the group. Ashank Desai, vice chairman & managing director, will assume the responsibilities of the group chief executive officer until a new group chief executive officer is appointed.
Mastek s consolidated net profit rose 26.98% to Rs 59.15 crore on a 6.13% rise in net sales to Rs 409.74 crore in Q2 September 2020 over Q1 June 2020.
Mastek is an enterprise digital transformation specialist. It enables large‐scale business change programmes through its service offerings, which include application development, oracle suite & cloud migration, digital commerce, application support & maintenance, BI & analytics, assurance & testing and agile consulting.