Shares of Mastek inched 3.4 percent higher on Tuesday after the company announced a strategic alliance with Netail.
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The collaboration will combine Mastek's expertise in digital commerce and data analytics with Netail's AI technology, resulting in a synergized retail solution and will empower online retailers with personalized merchandising, a better understanding of consumer behavior, efficient user experience, flexible assortment strategy, and real-time market visibility.
“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,” said Raman Sapra, President & Global Chief Growth Officer at Mastek.
During Q3FY23, Mastek's net profit declined by 20% YoY to Rs 67 crore, and its EBITDA decreased by 2.2% YoY to Rs 114 crore. However, the company's revenue from operations grew by 19.3% to Rs 659 crore compared to Rs 552 crore in the same period last year.
The share price of Mastek has declined 40 percent in the last one year and 10 percent in the last six months. At 10.09 a.m, the scrip was trading 2.55 percent higher on the NSE at Rs 1,677.15 apiece.
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