The shares of an IT company, specialzing in providing IT solutions, including software development, consulting, and digital transformation services jumped upto 4 percent upon receiving multiple work orders worth $85 million from a UK public service department.
Price action
With a market capitalization of Rs. 7,269.87 crores on Thursday, the shares of Mastek Limited jumped upto 4.3 percent making a high of Rs. 2,451.50 per share compared to its previous closing price of Rs. 2,348.70 per share.
What Happened
Mastek Limited engaged in providing IT solutions, including software development, consulting, and digital transformation services has secured multiple contracts worth an estimated USD 85 million (approximately Rs. 740 crore) over two years with a UK public service department.
These contracts are an extension of ongoing collaborations to support the department’s digital, data, and technology transformation, aligned to its strategic priorities. Mastek’s expertise in GovTech enables greater efficiency, autonomy, and resilience in government services, including case management, data integration, and management, in citizen services on secure AWS cloud infrastructure.
Management Commentary
Abhishek Singh, President of UKI & Europe, Mastek said: “At Mastek, we are dedicated to providing secure and high-impact digital solutions that empower our customers to be self-resilient and future-ready. As a trusted technology partner, we remain committed to supporting citizen-centric critical services that align with evolving national priorities.”
About the company
Mastek is a global provider of enterprise AI, digital, and cloud services, enabling clients to achieve measurable and sustainable returns on their technology investments. The company has a presence in over 40 countries and Mastek partners with industry leaders such as Oracle, Salesforce, Microsoft, AWS, Snowflake, and Databricks, serving key sectors such as Public Sector, Healthcare, Retail, Manufacturing, Higher Education, and Financial Services.
Revenue By Industry Segments (Q3FY25)
The Company’s revenue breakdown by industry segments was as follows: 39 percent from Government & Education, 21.6 percent from Health & Life Sciences, 13.3 percent from Retail/Consumer, 14.1 percent from Manufacturing & Technology, and at last 12 percent from Financial Services.
Financials
The company’s revenue rose by 11.6 percent from Rs. 787.64 crore to Rs. 879 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 75.32 crore to Rs. 94.71 crore during the same period.
Written by Sridhar J
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