Mastek’s shares increased 3.4% on Tuesday after the company announced a strategic alliance with Netail.

The partnership combines Mastek’s expertise in digital commerce and data analytics with Netail’s artificial intelligence technology to form a collaborative retail solution that will empower online retailers to personalize marketing, better understand consumer behaviour, efficient user experience, flexible classification strategies and real-time market visibility.

In Q3FY23, Mastek’s net profit fell 20% YoY to Rs 67 crore, and its EBITDA decreased 2.2% to Rs 114 crore. However, the company’s operating income rose 19.3% to Rs 659 crore against Rs 552 crore a year earlier.

Shares of Mastek have fallen 40% in the last year and 10% in the past six months. The stock was trading 2.55% higher at Rs 1,677.15 per share on the NSE at 10:09 am.