Mastek Q4 Results: Profit slips 14% QoQ, board recommends final dividend of ₹16 – check top highlights

Revenue in US dollar terms

The company's revenue in US dollar terms came in at $104.6, up 1.7% QoQ. On a YoY basis, it grew 11.6%. Revenue from operations for the full fiscal year saw an increase of 10.8% YoY at ₹408.4.

Total Income

The company, in its investor presentation, said that its total income for the March quarter came in at ₹909 crore, up 3.4% QoQ and 15.8% YoY.

Revenue from Operations

The company's revenue from operations saw an increase of 4.1% QoQ at ₹905.4 crore. The company had registered a revenue of ₹869.5 crore in the December quarter. On a YoY basis, the figure grew 16.1% from ₹779.7 crore.

Operating EBITDA

% of Operating Income

The company's percentage of operating income was 15.3% during the quarter under review against 16.2% in the December quarter, down 85 basis points (bps).

In the year-ago quarter, the figure was 16%. This translates to a YoY decline of 72 bps.

Net Profit

Net profit came in at ₹81.1 crore, down 14.4% QoQ from ₹94.7 crore logged in Q3 FY25. On a YoY basis, the figure dropped 14.1%.

Earnings per share (EPS)

EPS – Diluted was ₹26 in the March 2025 quarter against ₹30.3 in the December quarter.

Key numbers for full fiscal year (FY24- 25)

The company added that its total income rose 13.2% YoY to ₹3,477.5 crore, while revenue from operations saw an increase of 13.1% to ₹3,455.2 crore.

Net profit saw an increase of 21% during the fiscal year to ₹375.9 crore.

Dividend update

The Board of Directors has proposed a final dividend of 320% (₹16 per share).

The company said, "The Board of Directors recommended a final dividend of 320%, i.e., ₹16 per equity share (on the face value of ₹5 per equity share), for the financial year ended March 31, 2025, subject to the shareholders’ approval at the ensuing 43rd annual general meeting (AGM), and will be paid within 30 days from the date of approval at the ensuing 43rd annual general meeting (AGM).

The total dividend for the financial year ended March 31, 2025 (including the interim dividend of ₹7 per share) stands at ₹23 per share or 460% (in the previous year, it was ₹19 per share or 380%).

The book closure for payment of the said dividend for the financial year 2024-25 will be determined later and disclosed to exchanges."

Other key details

The company added 11 new clients in Q4 FY25. Total active clients during Q4 FY25 were 348 as compared to 351 in Q3 FY25.

The 12-month order backlog was ₹2,290.9 crore ($264.5 mn) as of March 31, 2025, as compared to ₹2,168.4 crore ($260.0 mn) in Q4 FY24, reflecting growth of 5.6% in rupee terms and 0.3% in constant currency terms on a Y-o-Y basis, and ₹2,138.7 crore ($249.8 mn) in Q3 FY25, reflecting growth of 7.1% in rupee terms and 3.8% in constant currency terms on a Q-o-Q basis.

As of March 31, 2025, the company had a total of 5,058 employees, of which 3,456 employees were based offshore in India while the rest were at various on-site locations. Employee count at the end of December 31, 2024, was 5,260. Last twelve months attrition was 19.3% in Q4FY25 in comparison with 20.1% in Q3FY25.

The total cash, cash equivalents, and fair value of mutual funds stood at ₹622.2 crore as of March 31, 2025, as compared to ₹497.0 crore as of December 31, 2024.

CEO statement

Commenting on the Q4 FY25 results, Umang Nahata, Chief Executive Officer, Mastek, said, “We are pleased to report a steady performance in Q4 FY25, delivering a revenue growth of 4.1% Q-o-Q and 16.1% Y-o-Y in rupee terms. We closed FY24-25 with a strong annual revenue and PAT growth of 13.1% and 20.9%, respectively, in rupee terms, driven by disciplined execution across geographies and innovation across all service lines."

The CEO added, "We continue to enhance our data & AI capabilities across verticals, with a focused go-to-market approach targeting Fortune 1000 clients. Our 12-month order backlog grew by 7.1% Q-o-Q, reflecting strong order book performance sustained by demand for our digital engineering, cloud, and data & AI services.

"Our core business, driven by the UK & Europe and Oracle in the US, continues to grow strongly, particularly in the healthcare and commercial sectors. The UK healthcare and secured government services continue to show strong momentum, supported by the government’s 10-year modernisation plan and increased investments in AI and data," Nahata added.

The CEO further said that while macroeconomic uncertainties persist, the company's sharp execution focus and deep client partnerships position Mastek for sustainable and profitable growth in FY26 and beyond.

Key wins for the quarter

• Mastek secured two strategic multi-year extension engagements from the UK’s Central Government Immigration Services Department to manage the immigration platform with live support and deliver integration services with digital dashboards across Immigration, Border Force, and UK Visas.

• Mastek secured a strategic engagement from the UK’s Official Export Credit Agency for delivering end-to-end software engineering across the Software Development Life Cycle by modernising citizen-facing digital channels, enabling smarter data usage, and enhancing testing services.

• Mastek secured a strategic contract from a US-based Global Fortune 500 Leader in Financial Services to design and implement a high-performance, scalable data framework to migrate the client's data warehouse, thus optimising performance, ensuring regulatory compliance, and enhancing responsiveness.