Mastek Q2 Results Live : Mastek announced its Q2 results on October 18, 2024, showcasing a robust performance with a 13.3% increase in revenue and an impressive 104.79% rise in profit year-over-year. The company’s growth trajectory continues to impress investors as they navigate through a competitive market.
When compared to the previous quarter, Mastek’s revenue grew by 6.7%, while profit saw a substantial increase of 79.93%. These figures highlight the company’s ability to maintain momentum despite potential economic headwinds.
However, the Selling, General & Administrative expenses saw a rise of 6.84% quarter-over-quarter and a 10.75% increase year-over-year, indicating that operational costs are climbing alongside revenue growth. This increase in expenses warrants attention as the company continues to scale its operations.
Operating income demonstrated significant growth, up by 29.98% on a quarter-over-quarter basis and 37.73% year-over-year, showcasing Mastek’s operational efficiency and strong market positioning.
Earnings Per Share (EPS) for Q2 stood at ₹37.46, reflecting a notable increase of 76.37% compared to the same quarter last year. This impressive EPS growth further underscores the company’s profitability and commitment to delivering value to its shareholders.
In terms of stock performance, Mastek has delivered a return of 10.52% in the last week, a solid 6.84% over the past six months, and a year-to-date return of 5.95%. These metrics suggest a positive market sentiment surrounding the company.
Currently, Mastek boasts a market capitalization of ₹9216.14 crore, with its stock trading between a 52-week high of ₹3145 and a low of ₹2103.05. This range reflects the stock’s volatility but also its potential for growth.
As of October 19, 2024, out of five analysts covering Mastek, two have given a Hold rating, two have assigned a Buy rating, and one has issued a Strong Buy rating. This mixed outlook indicates cautious optimism among analysts regarding Mastek’s future performance.
The consensus recommendation as of October 19, 2024, is to Buy, reflecting a general positive outlook for Mastek as it continues to deliver strong financial results.
