MASTEK Announces Quarterly Results (2QFY21); Net Profit Up 140.1%

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Markets will remain closed on 26th January, 2021 on account of Republic Day.

MASTEK Announces Quarterly Results (2QFY21); Net Profit Up 140.1%
Fri, 6 Nov

MASTEK has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

MASTEK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m2,4363,8614,0976.1%68.2%
Other incomeRs m9116741-75.7%-55.5%
TurnoverRs m2,5274,0284,1382.7%63.7%
ExpensesRs m2,1503,1793,2321.7%50.4%
Gross profitRs m28768186627.1%202.1%
DepreciationRs m561141162.1%106.7%
InterestRs m92521-16.8%141.9%
Profit before taxRs m3137097698.4%145.8%
TaxRs m66243177-27.1%167.2%
Profit after taxRs m24646659227.0%140.1%
Gross profit margin%11.817.621.1
Effective tax rate%21.234.323.1
Net profit margin%9.711.614.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 68.2% on a year-on-year (YoY) basis. The expenses were up by 50.4% YoY during the same period.
  • The company's operating profit increased by 202.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.1% in 2QFY21 as against 11.8% in 2QFY20.
  • Depreciation charges increased by 106.7% and finance costs increased by 141.9% YoY, respectively.
  • Other income declined by 55.5% YoY during the quarter.
  • Net profit for the quarter increased by 140.1% YoY. Net profit margins during the quarter increased from 9.7% in 2QFY20 to 14.3% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.7% QoQ during the same period.
  • The company's operating profit increased by 27.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.1% in 2QFY21 as against 17.6% in 1QFY20.
  • Net profit for the quarter increased by 27.0% QoQ, while net profit margins increased from 11.6% in 1QFY20 to 14.3% in 2QFY21.

To see how MASTEK has performed over the last eight quarters,please visit here.

Know More: Which way are the markets & the mutual fund industry headed?

MASTEK Share Price Performance

Over the last one year, MASTEK share price has moved up from Rs 328.0 to Rs 922.6, registering a Gain of Rs 594.6 or around 181.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 21,536.3 (down 0.1%). Over the last one year it has moved up from 15,409.6 to 21,536.3, a gain of 6,127 points (up 39.8%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 922.6, the price to earnings (P/E) ratio of MASTEK stands at 14.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.5 times.

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Related Views on News

MASTEK Announces Quarterly Results (1QFY21); Net Profit Up 92.3% (Quarterly Result Update)

Aug 21, 2020 | Updated on Aug 21, 2020

For the quarter ended June 2020, MASTEK has posted a net profit of Rs 466 m (up 92.3% YoY). Sales on the other hand came in at Rs 4 bn (up 56.0% YoY). Read on for a complete analysis of MASTEK's quarterly results.

MASTEK Announces Quarterly Results (3QFY20); Net Profit Down 1.9% (Quarterly Result Update)

Jan 30, 2020 | Updated on Jan 30, 2020

For the quarter ended December 2019, MASTEK has posted a net profit of Rs 260 m (down 1.9% YoY). Sales on the other hand came in at Rs 2 bn (down 8.0% YoY). Read on for a complete analysis of MASTEK's quarterly results.

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