Happiest Minds Q2FY23 PAT up 33.7% at Rs59.41 crore on 34% yoy growth in the EBITDA

25 Oct 2022 , 12:12 PM

Happiest Minds Ltd reported 34.39% growth in total revenues for the September 2022 quarter on consolidated basis at Rs355.51cr.

Revenue growth was 8.08% higher in sequential terms. The company has maintained its digital revenues at above 96% on a consistent basis.

Annual revenues have now grown at CAGR of 25.8% over last 3 years. Product engineering constitutes 47% of revenues while digital business solutions accounted for 29.7%.

In additoin, the Infrastructure management and security accounting for 21.9% of revenues.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 33.69% at Rs59.41cr while sequential revenues were up 5.45%.

The operating profits of the IMSS vertical grew by 86.2% yoy, the DBS vertical grew by 38.2% and the and the largest product engineering (PES) vertical grew by 43.8% yoy.

PAT margins were at 16.71% in the Sep-22 quarter compared to 16.80% in the Sep-21 quarter but lower than 17.13% in June 2022 quarter. The company saw attrition of 23.5% on a 12 months trailing basis in the latest quarter.

Financial highlights for Sep-22 compared yoy and sequentially

	Happiest Minds
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 355.51	₹ 264.53	34.39%	₹ 328.92	8.08%
Net Profit (Rs cr)	₹ 59.41	₹ 44.44	33.69%	₹ 56.34	5.45%
Diluted EPS (Rs)	₹ 4.09	₹ 3.06		₹ 3.88
Net Margins	16.71%	16.80%		17.13%