Mastek rose 1.41% to Rs 1,659.45 after the company announced strategic partnership with new-age and AI-led retail software solutions partner, Netail, to help e-commerce and omni-channel retailers to optimize their retail value-chain.
Mastek's deep expertise in digital commerce & data analytics forged with Netail's breakthrough AI technology that powers key decisions across assortment, pricing & customer engagement will devise a synergized retail solution.The combined retail expertise of Mastek and Netail will empower online retailers with personalized merchandising, a better understanding of consumer behavior, efficient user experience, flexible assortment strategy, and real-time market visibility.
Raman Sapra, president & global chief growth officer at Mastek, said, "With e-Commerce retailers facing challenges by dramatic changes in consumer behavior and the inadequacy of conventional marketing to influence purchase decisions, the partnership with Netail will empower our retail clients to drive AI-led digital transformation, understand the market from the consumer perspective, and strategize for increased ROI without compromising on brand value."
Dr. Mark Chrystal, chief executive officer (CEO) of Netail, said, "We are delighted to partner with Mastek as we take our advanced AI solutions to retailers across the globe. Its deep expertise in cloud technologies and system integration complements our expertisee and will help retailers maximize the value from adopting our AI solution suite."
Mastek is an IT company providing enterprise digital and cloud transformation services to the Government/ public sector, health and life science, retail and financial service sectors. The company's service offering includes, application development, Oracle suite & cloud migration, digital commerce, application support & maintenance, BI & analytics, assurance & testing and agile consulting.
The IT company's consolidated net profit tumbled 18.86% to Rs 64.18 crore in Q3 FY23 as against Rs 79.10 crore recorded in Q2 FY23. Revenue from operations rose 5.34% to Rs 658.66 crore quarter ended 31 December 2022 from Rs 625.30 posted in Q2 FY23.
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