Mastek
21.7.2021 17:03:02 CEST | ACCESS Newswire | Press release
Q1FY22 Revenue crossed $70M; up by 33.8% Y-o-Y basis
MUMBAI, INDIA / ACCESSWIRE / July 21, 2021 / Mastek, a global IT player and a trusted partner in complex digital & agile transformation programs in the Government and Global Enterprises worldwide, announced today its financial results for the first quarter of FY22 ended on 30th June 2021.
- Rs 516.5 crore revenue for Q1FY22
- Constant Currency revenue grew 27.2% Y-o-Y
- Profit after Tax grew by 72.2% Y-o-Y
- Added 40 new clients in the quarter
- Total active clients at 651 global customers
- Total employee count at 4302 Mastekeers
Commenting on the Q1FY22 results, Ashank Desai, Vice Chairman and Managing Director, Mastek, said: 'I am happy to welcome Hiral Chandrana as our new Global Chief Executive Officer to move ahead our growth story around digital transformation. He has a strong track record in various facets of the IT Services industry and scaling digital businesses. His successful global leadership experience will help us continue to deliver industry-leading growth, strengthen our global positioning, and expand our capabilities in Digital and Cloud. Further in terms of our quarter performance, I am pleased to see Mastek's industry-leading growth in revenue and order backlog primarily driven by momentum in US/UK geographies. Integration of Evosys business continues to be in line with our expectations.'
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.Hiral Chandrana, Global Chief Executive Officer, Mastek, said: 'I am honored to lead Mastek, an organization with a rich heritage of many firsts built on a strong foundation of values. I would like to first take this opportunity to thank our loyal clients across 41 countries for their trust in Mastek. As customers continue to accelerate their digital journeys, Mastek is uniquely positioned to be the business solutions partner of choice with our differentiated cloud & digital transformation offerings. Mastekeers continued to demonstrate immense resilience and I look forward to the journey ahead as we deliver on the significant unrealized potential of Mastek.'
Arun Agarwal, Global Chief Financial Officer, Mastek, said: 'Q1FY22 has been another quarter of consistent financial performance. We reported Rs 516.5 crore revenue, reflecting a growth of 6.9% sequentially, demonstrating the strong fundamentals of our business in these challenging times. Despite increase in costs due to onshoring, promotions and investments in talents during the quarter, we have been able to maintain healthy operating EBITDA margin of 21.8%. We continue to maintain healthy free cash flow of Rs 115.4 crore during the quarter. We are confident that with increasing demand for digital services, strong order backlog and strategic investments, we are well placed to sustain the growth momentum, create values for our customers and maximize value for our shareholders.'
Key wins and highlights for the quarter:
During the quarter, we continued to experience momentum in winning deals as illustrated below:
- Co-sell by Mastek and Evosys to a multinational battery manufacturing company, to enable company to achieve increased productivity, optimal execution and collaboration across their supply chain by moving to the Cloud.
- Complete industry solution will be provided by Mastek to a U.S.-based client providing high-quality care to patients; to aid client to achieve innovative and patient care services with Oracle ERP, SCM, HCM & analytics solution on Cloud.
- Mastek entered into deals with UK Central Government Department which includes: (A) Multi million deal signed with the customer to deliver Ministerial priorities for refugee payments (COVID-19 support) and Asylum system Public rollout; and (B) Multi million deal signed to provide international printing capability for Diplomats and international resident citizenship certificates.
- Mastek won a data sciences engagement with a leading US HQ Global Industrial Services firm. Mastek will build ML based data Sciences models to help the Client harness Data for delivering business outcomes and superior customer experience.
- Mastek gets recognized in The Gartner Digital Commerce Vendor Guide, 2021 (Sandy Shen et al., 14 April 2021) as a Digital Commerce Service Provider.
- Evosys, a Mastek company for the third year in a row, is recognized in the 2021 Gartner Magic Quadrant for Oracle Cloud Applications Services, Worldwide
About Mastek
Mastek (NSE: MASTEK; BSE: 523704), is an enterprise digital transformation specialist that engineers excellence for customers in UK, US, Middle East, Asia Pacific and India across 41 countries. Our digital services enable large-scale business change programs for clients through its differentiated offerings, which include Cloud Native & Application Development, Oracle Suite & Cloud Implementations, Digital Commerce, Application Support & Automation, BI & Analytics, Digital Assurance and Agile Consulting. Mastek helps enterprises to navigate the digital landscape and stay competitive by unlocking the power of data, modernizing your 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, serving 1,000+ Oracle Cloud customers across 30+ countries.
Mastek is well poised to be among the top providers of agile digital transformation solutions and a significant player within the digital transformation space in retail and financial services.
For more information please visit our web site www.mastek.com.
Press Contact:
Kashmira Chavan
Kashmira.chavan@mastek.com
SOURCE: Mastek
View source version on accesswire.com:
https://www.accesswire.com/656465/Mastek-Begins-Q1FY22-on-a-Positive-Note-With-Growth-Across-Segments-Geographies-and-Verticals
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
GA-ASI and MBDA Commit to Weapons Collaboration21.7.2026 16:00:00 CEST | Press release
Companies Will Integrate SPEAR Onto MQ-9B and Gambit 6 SAN DIEGO, CA / ACCESS Newswire / July 21, 2026 / General Atomics Aeronautical Systems, Inc. (GA-ASI) and MBDA have announced a commitment to integrate the European missile-maker's SPEAR precision strike weapons onto new aircraft built by the American uncrewed aircraft manufacturer. GA-ASI President David R. Alexander and MBDA UK Managing Director Chris Allam signed a memorandum of understanding that outlined the agreement at the Farnborough International Airshow 2026. The companies will work together to ensure the MQ-9B remotely piloted aircraft and Gambit 6 collaborative combat aircraft (CCA) can carry and use the SPEAR weapons. "We've built an excellent business relationship with MBDA as part of the integration of the Brimstone missile onto the UK's Protector," said Mr. Alexander. "So, working with MBDA to enable SPEAR on our broader MQ-9B line, and our Gambit CCA, feels like a very natural extension of our partnership." Protect
CHAR Tech Welcomes France's Regulatory Advance Opening Biogas Certificate Support to Pyrolysis21.7.2026 14:00:00 CEST | Press release
TORONTO, ON / ACCESS Newswire / July 21, 2026 / (TSXV:YES)(OTC PINK:CTRNF)(FSE:68K) France proposes opening its flagship renewable gas support scheme (the CPB) to pyrolysis, putting CHAR Tech's HTP technology on the same footing as established production routes in one of Europe's largest gas markets Directly strengthens the HTP project pipeline being developed in France by CHAR Tech's partner GazoTech GazoTech's lead project, Bio-Méthane Provence, is being developed to deploy CHAR Tech's HTP platform to process 115,000 tonnes of recovered wood annually, producing 230 GWh (828,000 GJ) of RNG plus 12,000 tonnes of biocarbon, targeting commercial operations in H2 2029 CHAR Technologies Ltd. ("CHAR Tech" or "the Company"), a leader in sustainable biomass energy solutions, today welcomed a significant regulatory development in France that, if adopted, would open the country's flagship long-term support mechanism for renewable gas to pyrolysis-based production. The development materially str
Fermi Announces Second Quarter 2026 Earnings Release and Call Date20.7.2026 22:30:00 CEST | Press release
Fermi to host earnings call on August 13, 2026 DALLAS, TX / ACCESS Newswire / July 20, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), announced today that it plans to release second quarter 2026 financial results at 7 a.m. Eastern Time / 12 p.m. British Time on Thursday, August 13, 2026. This announcement will be followed by an earnings conference call at 9 a.m. Eastern Time / 2 p.m. British Time. The Company's earnings release and supplemental information will be posted to the Investors section of the Company's website prior to the conference call. To join the live conference call, dial 888-506-0062 in the U.S. or +1 973-528-0011 internationally approximately 15 minutes prior to the scheduled start time and refer to conference code 587288. The call will also be webcast in a listen-only mode and can be accessed through the Investor Relations Events & Presentations page of Fermi's website. A replay of the webcast will be available for
GA-ASI and KONGSBERG Advance JSM Integration for MQ-9B20.7.2026 12:05:00 CEST | Press release
Companies Bring Joint Strike Missile Weapon System to Leading Uncrewed Platform SAN DIEGO, CA / ACCESS Newswire / July 20, 2026 / General Atomics Aeronautical Systems, Inc. (GA-ASI) and KONGSBERG Gruppen ASA (KONGSBERG) completed the System Requirements Review (SRR) and Preliminary Design Review (PDR) for the integration of the Joint Strike Missile (JSM) weapon system onto MQ-9B. This design and integration effort is a jointly funded project by both companies aimed at providing long-range strike capability for MQ-9B and its customers. These reviews were successfully completed in Kongsberg, Norway, on June 30. MQ-9B is an industry-leading uncrewed aircraft system (UAS) manufactured by GA-ASI and includes the SkyGuardian® and SeaGuardian® models. KONGSBERG produces the JSM, a best-in-class weapon system for use against high-priority targets. "We recognize the value JSM brings to our MQ-9B platform," said Niki Johnson, GA-ASI Vice President, International Capture and Government Affairs. "
GA-ASI Completes Qualification Testing for UK Protector Weapons20.7.2026 12:00:00 CEST | Press release
Concludes 6-Year U.S. and U.K. Governmental and Industry Collaboration SAN DIEGO, CA / ACCESS Newswire / July 20, 2026 / General Atomics Aeronautical Systems, Inc. (GA-ASI) has completed weapons testing for the Royal Air Force's (RAF) Protector RG Mk1 Remotely Piloted Aircraft, qualifying both the Paveway IV laser-guided bomb and the Brimstone 3 air-to-surface missile for launch from GA-ASI's MQ-9B aircraft. Testing was completed on June 18 at GA-ASI's facilities in Southern California and marked the first time that GA-ASI has taken the lead role in completing weapons qualification for a customer. The qualification testing was conducted under UK Ministry of Defence approval and met all requirements for certification of the safe carriage and release of weapons. "The Royal Air Force is our MQ-9B launch customer and we're here to support them in any way we can," said GA-ASI President David R. Alexander. "Leading the qualification test was a unique experience and we're excited to complete
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom