Mastek tumbles 15% on muted numbers for the December quarter

Despite a 25% correction from its 52-week high level, Mastek has outperformed the market in the past one year by surging 147 per cent, as against a 20 per cent rise in the Sensex.

Shares of Mastek tumbled 15 per cent to Rs 2,750 on the BSE in Thursday’s intra-day trade after the IT company reported muted earnings for the October-December quarter. Mastek's Q3 revenue grew 3.7 per cent in constant currency (CC) sequentially. In rupee terms, revenue was up 3.4 per cent at Rs 551.90 crore, while dollar revenue grew by 2.2 per cent to $73.6 million over September 2021 quarter (Q2).

At 11:18 am; Mastek traded 12 per cent lower at Rs 2,844.95, as compared to 0.33 per cent decline in the S&P BSE Sensex. With today’s fall, the stock has