Happiest Minds Technologies Q4 Results: Profit rises 11% YoY to Rs 58 crore; dividend declared at Rs 3.4/share

May 08 2023 01:11 PM IST
share
Share Via
Happiest Minds Technologies consolidated net profit rose 11% to Rs 58 crore in the fourth quarter. The company reported an EBITDA (earnings before interest, tax, depreciation, and amortisation) of Rs 101 crore. For the full year, the company reported profit growth of 28% YoY to Rs 231 crore.
Happiest Minds Technologies Q4 Results: Profit rises 11% YoY to Rs 58 crore; dividend declared at Rs 3.4/share
IT services company Happiest Minds Technologies consolidated net profit rose 11% to Rs 58 crore in the fourth quarter. It was Rs 52 crore in the corresponding quarter of last year.Revenue from operations surged 26% to Rs 378 crore in the reporting period against Rs 300 crore in the same period last year.Revenue in the constant currency grew by 18% year-on-year (YoY). Operating revenues in dollar terms stood at $46 million, up 15% YoYThe company reported an EBITDA (earnings before interest, tax, depreciation, and amortisation) of Rs 101 crore, showing a growth of 23% YoY.For the full year, the company reported profit growth of 28% YoY to Rs 231 crore, while revenues jumped 28% too at Rs 1,450 crore."Our excellent results both in terms of growth and profitability reflect our operating strengths. This is the 12th successive quarter where we have reported EBITDA of more than 25%," said Venkatraman, MD & CFO, Happiest Minds.The company's board has recommended a final dividend of Rs 3.4 per share for the financial year 2022-23.“Our compelling value proposition and effective land and expansion strategy led to good performance on our customer metrics. The average revenue per customer and the number of billion-dollar corporations have shown consistent progression during the fiscal," said Joseph Anantharaju, Executive Vice Chairman, Happiest Minds.The company said it marked improvement in pipeline and deal velocity in the second half of the quarter setting us up well for the first quarter and FY24.Happiest Minds has added 16 clients during the fourth quarter, taking the total to 237 as of March 2023.The total employee count of the company was at 4,917 at the end of the March quarter, with a net addition of 306 employees. Attrition on a trailing 12-month basis stood at 19.8%.On Monday, Happiest Minds stock closed 2.70% lower at Rs 847.95 apiece on NSE

Mojo Stocks - The Top 1% Picks across Markets

Top 10 Large Cap Mid Cap Small Cap
{{col.header}}
Latest
OPEN CALL
CLOSED CALL
{{s[col.key]}} {{s.change_value}}
{{ s.score.value }} - {{ s.score.call_type }}
{{ s.dot_summary.score }} - {{ s.dot_summary.scoreText }}
{{s[col.key]}} {{col.extra}}

Our weekly and monthly stock recommendations are here
Loading...
{{!sm.blur ? sm.comp_name : ''}}
Industry
{{sm.old_ind_name }}
Market Cap
{{sm.mcapsizerank }}
Date of Entry
{{sm.date }}
Entry Price
Target Price
{{sm.target_price }} ({{sm.performance_target }}%)
Holding Duration
{{sm.target_duration }}
Last 1 Year Return
{{sm.performance_1y}}%
{{sm.comp_name}} price as on {{sm.todays_date}}
{{sm.price_as_on}} ({{sm.performance}}%)
Industry
{{sm.old_ind_name}}
Market Cap
{{sm.mcapsizerank}}
Date of Entry
{{sm.date}}
Entry Price
{{sm.opening_price}}
Last 1 Year Return
{{sm.performance_1y}}%
Related News