Mastek Continues the Growth Momentum, Q2FY22 Revenue at $72.0mn; Up by 25.0% Y-O-Y Basis (In CC Terms)

Mastek, a global digital transformation specialist and a trusted partner in complex digital & cloud programs in the Government and Global Enterprises worldwide, announced today its financial results for the Second Quarter & Half Year of FY22 ended on 30 September 2021.
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 three years. We will continue to invest in 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.”
Review of the Consolidated Financial Performance for Quarter ended 30 September 2021:
Figures in $mn
Q2FY22
Q1FY22
Q-o-Q Growth
Q2FY21
Y-o-Y Growth
Revenue from Operations
72.0
70.2
3.9% (CC)
55.1
25.0% (CC)
Operating highlights:
About Mastek
Mastek (NSE: MASTEK; BSE: 523704), is an enterprise digital transformation specialist that engineers excellence for customers across 41 Countries worldwide including UK, US, Europe, Middle East, and Asia Pacific. We enable business outcomes for clients through our differentiated digital and cloud services, which includes Digital & Application Engineering; Cloud & Enterprise Apps; Digital Commerce & Experience; Data, Automation and AI  and Next Generation Managed Services. Mastek helps enterprises to navigate the IT and business landscape and stay competitive by unlocking the power of data, modernizing applications, and accelerating digital advantage for our customers. Evosys – A Mastek company, is an Oracle Platinum partner and a leading Oracle Cloud implementation and consultancy company, with 1,200+ Oracle Cloud clients.
Mastek is well poised to be among the top providers of agile digital transformation solutions across diverse set of industries such as retail, manufacturing, healthcare & life sciences, public sector and financial services.
For more information and past results & conference call transcripts, please visit our web site www.mastek.com (and/or the Investors section at https://www.mastek.com/in/financial-information or https://www.mastek.com/in/investor-information). Updated disclosures regarding corporate governance may also be accessed in the web site’s Investors section at: https://www.mastek.com/corporate-governance
Press contact:                                                      
Press Contact
Palak Soni
Palak.Soni@mastek.com
Note: Except for the historical information and discussion contained herein, statements included in this release may constitute forward looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those that be projected by these forward looking statements. These risks and uncertainties include, but not limited to such factors as competition, growth, pricing environment, recruitment and retention, technology, wage inflation, law and regulatory policies etc. Such risks and uncertainties are detailed in the Annual Report of the company which is available on the website www.mastek.com. Mastek Ltd. undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.
Source: Mastek