On a consolidated basis, the IT company's net profit rose 2.4% to Rs 83.50 crore on 3.4% increase in revenue from operations to Rs 551.90 crore in Q3 December 2021 over Q2 September 2021.
Mastek's net profit rose 18.7% and revenue from operations rose 24.6% in Q3 December 2021 over Q3 December 2020.Operating EBITDA stood at Rs 116.20 crore in Q3 FY22, up 3% QoQ and up 11.9% YoY.
Sequentially, operating EBITDA margin was flat at 21.1% in Q3 FY22. The margin was 23.5% in the same quarter last year.
In constant currency, revenue from operations stood at $73.6 million in Q3 FY22, up 3.7% QoQ and up 20.9% YoY.
The company's 12 months order backlog was Rs 1,271.3 crore ($171.0 mn) as on 31st December 2021 as against Rs 1,154.3 crore ($155.5 mn) in Q2FY22, reflecting a growth of 10.1% in rupee terms and 9.9% in constant currency terms on QoQ basis and Rs 946.7 crore ($129.6 mn) in Q3FY21, reflecting a growth of 34.3% in rupee terms and 33.7% in constant currency terms on YoY basis.
The company added 25 new clients in Q3FY22. Total active clients during Q3FY22 was 421 as compared to 447 in Q2FY22.
The board of directors have recommended an interim dividend of Rs 7 per equity share.
The total cash, cash equivalents and fair value of mutual funds stood at Rs 932.3 crore as on 31 December 2021 as compared to Rs 943.9 crores at the end of 30 September 2021.
Hiral Chandrana, global chief executive officer, Mastek, said: "We have delivered consistent revenue and order book growth with robust performance across geographies in Q3FY22. Our account mining and integrated solutioning efforts have led to revenue growth in our strategic bets including Health and Life Sciences and our Data/Automation & Oracle Cloud services. We had strong deal momentum which is reflected in our 12 months order backlog of US$171 mn end of December 2021. As part of our Strategic Vision 2025 that will drive accelerated growth over the next 3 years, we have onboarded 2 new global executives, one to lead Marketing & Partnerships and another for Innovation & Platforms as we continue to deliver differentiated business value for our clients across digital & cloud programs."
Arun Agarwal, global chief financial officer, Mastek, said: "Q3FY22 is another quarter where we demonstrated resilience of our business and delivered a strong financial performance. We reported operating revenue of Rs 551.9 crores, a growth of 24.6% on Y-o-Y basis, reinforcing the strong fundamentals of our business in a seasonally week quarter. Despite industry wide challenges driven by high attrition, investment in talent retention and lateral hires, we have been able to maintain healthy operating EBITDA margin at 21.1%. I am pleased with increasing average deal size in the UK and other geographies. We are confident that our next-gen capabilities, sectoral expertise and client mining strategy are well placed to ensure the velocity at which we grow, add value to our customers and maximize value for our shareholders."
Mastek is a global digital engineering & cloud transformation specialist that delivers innovative solutions and business outcomes for clients in healthcare & life sciences, retail, manufacturing, financial services, government/public sector, etc.
Shares of Mastek slumped 12.07% to Rs 2830 on the BSE.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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