Happiest Minds Technologies commences FY22 with happy quarterly results!

The company was successful in settling an earlier reported employee discrimination suit in the US, bagging a credit of Rs 2 crore to the company's P&L account.

On Wednesday, Happiest Minds Technologies announced its consolidated quarterly results for Q1FY22. The company was able to record good performance for the quarter. 

In US$ terms, the revenue was recorded at $33.2 million, exhibiting a growth of 9.6 per cent on a QoQ basis and 41.4 per cent on a YoY basis. The total income earned by the company was Rs 253.87 crore, which grew by 35.8 per cent as compared to the corresponding previous quarter in FY21. EBITDA was 26.1 per cent of the total income and reported at Rs 66.15 crore. The net profit cast down to Rs 35.73 crore and reported 28.8 per cent lower in Q1FY22 than the number reported in Q1FY21.  

The free cash flows for the quarter were recorded at Rs 65.69 crore. The EPS of Rs 2.45 for the quarter descended by 34.1 per cent on a YoY basis. The quarterly annualised RoCE and RoE were 30.7 per cent and 24.7 per cent, respectively. The company has won multiple new deals and braced itself up for the timely & quality execution of the new projects. 

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

Happiest Minds' public issue was listed at BSE & NSE on September 17, 2020. On a YTD basis, the share has delivered gains of 303.4 per cent. 

On Thursday, despite reporting good quarterly results, the company's share faced selling pressure and was trading at Rs 1,367 per share, which is 1.5 per cent down on BSE.