WATCH | Mastek CEO John Owen On The Company's Q3 Results
Software services firm Mastek Ltd. expects the tailwinds of political clarity after Brexit to drive revenue growth in the financial year ending March 2021.
“Political stability in the U.K. is going to give a lot of confidence back to discretionary spends (among clients),” John Owen, chief executive officer at Mastek, said during an interaction with BloombergQuint. “The market didn't spend in 2019 and I expect that held-back spending to come through in 2020.”
The U.K. elections weighed on the company's December quarter performance, he said. Nearly three-fourths of the company's revenue comes from the U.K.
Mastek Q3 Results: Key Highlights (YoY)
- Revenue flat at Rs 243.7 crore
- Net profit rose 5 percent to Rs 26 crore
- EBIT rose 11.2 percent to Rs 27.8 crore
- Operating margin at 1.4 percent versus 10.3 percent
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