Mastek tanks 15% on muted September quarter results

In Q2, the company's net profit remained flat at Rs 81.5 crore as against Rs 80.2 crore in June quarter of FY22

Shares of Mastek tanked 15 per cent to Rs 2,903 on the BSE in Wednesday's intra-day trade after the company reported muted set of July-September quarter (Q2FY22) numbers. With today's decline, the stock has corrected 21 per cent from its 52-week high level of Rs 3,666, touched in Tuesday's intra-day trade.

In Q2FY22, the company's dollar revenue increased 2.6 per cent quarter on quarter (QoQ) to $72 million (up 3.9 per cent in constant currency (CC)) while rupee revenue increased 3.4 per cent QoQ at Rs 533 crore. Net profit during the quarter also remained flat at Rs 81.5