Happiest Minds Technologies' revenue jumps 47.2% yoy to Rs284cr

31 Jan 2022 , 10:16 AM

Happiest Minds Technologies Limited, a ‘Born Digital. Born Agile’, a digital transformation and IT solutions company, announced its consolidated results on Friday for the third quarter ended December 31, 2021, as approved by its Board of Directors.

The company reported consolidated revenue of Rs283.94cr for Q3 FY’22 against Rs192.84cr for Q3FY21, reflecting a growth of 47.2% YoY. While its revenue in US terms stood at $37.8 million for Q3 FY’22 against $26.2 million for Q3 FY’21, registering a growth of 44.2% YoY.

It reported an EBITDA of Rs 76.31 crores for the quarter ending December 2021, against Rs 59.69 crores for the quarter ending December 2020, reflecting a growth of 27.8% YoY. Its EBITDA margin stood at 26.1% for the December 2021 quarter against 25.6% for the same quarter last year.

Happiest Minds’ PAT stood at Rs48.92cr for the quarter ending December 2021, against Rs42.15cr for the previous corresponding quarter, up by 16.1% YoY.

The companies’ revenue for the 9M period ending December 2021 stood at Rs 793.08 crores against Rs 552.70 crores for the same period last year, registering a growth of 43.5% YoY. While its PAT for the 9M period ended December 2021 stood at Rs 129.09 crore, as against Rs 126.41 crore for the 9M period ending December 2020, up by 2.1% YoY.

“We continue to deliver all-around healthy financial and business performance. Revenue growth of 47.2%, EBIDTA at 26.1%, robust cash generation, and healthy capital return ratios are testimony to this. Coupled with onboarding talent and healthy utilization levels, we are well-positioned to address the strong demand environment for Digital services,” stated Venkatraman N, MD & CFO of the company.

Happiest Minds was last seen at Rs1,146 down by Rs0.15 or 0.01% from its previous closing of Rs1,146.15 on the BSE. The scrip opened at Rs1,197.40 and has touched a high and low of Rs1,197.40 and Rs1,143.45 respectively.