Happiest Minds Q3 PAT up 10% QoQ

29 Jan 2022 , 11:33 AM

As compared to Q3 FY21, the companys net profit and revenue are higher by 16.1% and 47.2%, respectively.

EBITDA in the third quarter was Rs 76.31 crore, up 8.8% QoQ and 27.8% YoY.

In dollar terms, its operating revenue stood at $37.8 million up by 5.5% QoQ and 44.2% YoY.

The company had 4,021 employees at the end of the reporting quarter, with a net addition of 225 people in Q3. The trailing 12-months attrition was at 21.1%. Happiest Minds added 11 new clients in the third quarter taking the tally to 195 total clients. Utilization rate in Q3 was 81%, as against 79.7% in last quarter.

Joseph Anantharaju, executive vice chairman, said, ?Our compelling offerings have made us the partner of choice for our customers in their Experience, Data and Cloud initiatives. The stellar results validate the value proposition that we offer our customers and the critical role we play in their strategic digital initiatives.?

Venkatraman N, MD & CFO said, ?We continue to deliver all-around healthy financial and business performance. Coupled with onboarding talent and healthy utilization levels, we are well-positioned to address the strong demand environment for Digital services.?

Happiest Minds Technologies, an IT solutions company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights.

The scrip advanced 0.87% to end at Rs 1146.15 on the BSE yesterday.

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