Mastek block deal: Firm's shares settle 1% lower as 7.6% equity changes hands

Shares of midcap IT services company Mastek ended over 1% lower at ₹2,871 apiece on the BSE on Wednesday, September 4, after news reports suggested that 23.5 lakh shares, or 7.6% equity worth ₹647.5 crore, changed hands at ₹2,750 per share. 

Mastek Q1 FY25 Results

The company's consolidated net profit tumbled 24.27% to ₹71.50 crore in Q1 FY25 as against ₹94.41 crore reported in Q4 FY24. However, revenue from operations grew by 4.25% quarter on quarter (QoQ) to ₹812.89 crore in the quarter ended 30 June 2024.

On a year-on-year (YoY) basis, Mastek's net profit declined 2.76% while revenue rose 12.08% in Q1 FY25, as per news reports.

Operating EBITDA was at ₹123.9 crore in the June quarter, registering a decline of 0.9% QoQ and 2.4% YoY. Operating EBITDA margin reduced to 15.2% in Q1 FY25 as compared to 16% in Q4 FY24 and 17.5% in Q1 FY24.

In terms of dollars, the firm's revenue was $97.3 million in Q1 FY25, up 3.8% QoQ and 10.4% YoY. In constant currency terms, revenue was up by 4.1% QoQ and 9.9% YoY.

Twelve-month order backlog was at ₹2,168.8 crore ($260.1 million) as of June 30, 2024, as compared to ₹1,763.9 crore ($215.0 million) in Q1FY24, reflecting growth of 23% in rupee terms and 21% in constant currency terms on a YoY basis and ₹2,168.4 crore ($260.0 million) in Q4 FY24.

Mastek share price performance

Shares of the company have rallied nearly 23% in the past 12 months and around 787% over the past five years.