On the back of healthy first-quarter numbers, the small-cap company — Mastek shares hit a new life high after rallying over 4 per cent to Rs 2,600 on the BSE intraday trade on Tuesday. 

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The company on Monday reported 6.5 per cent growth on a quarter-on-quarter (QoQ) basis to $70.2 million. While the revenue in constant currency terms grew by 4.3 per cent, and rupee revenue increased by 6.9 per cent QoQ to Rs 516.5 crore.

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Similarly, Mastek’s EBITDA margins were flat QoQ at 21.8 per cent, and profit grew by 14.4 per cent QoQ to Rs 69.3 crore in Q1 FY21. 

In its filing to exchanges, the management said despite an increase in costs due to onshoring, promotions, and investments in talents during the quarter, the company has been able to maintain a healthy operating margin.

The stock in the last six months has zoomed 120 per cent as against a 4.6 per cent rise in the S&P BSE Sensex. At around 02:05 pm, the counter was trading around 1 per cent higher at Rs 2,518 on the BSE, as compared to a 0.44 per cent decline in the BSE Sensex. A combined 390,000 shares had changed hands on the counter on the NSE and BSE so far.

The company’s one-year order backlog was at Rs 1,177.7 crore ($158.4mn) as on Q1FY22 versus Rs 1,130.4 crore ($154.6mn) in the same period a year ago, which reflects a surge of 4.2 per cent in rupee terms and 2.1 per cent in constant currency terms, sequentially.

The company has seen a healthy deal pipeline and hiring has increased by 510 indicating healthy revenue visibility.