Happy Minds Q1 Results: The shares of IT sector company Happiest Minds saw a great rise of more than 5% on July 29. This fast came after the company announced the June quarter results. After the results, the company’s stock jumped to 5.83% to reach a level of Rs 636.65.
Happiest Minds increased its net profit of Rs 68 per cent to Rs 57.1 crore in the April-June quarter of the current financial year, which was Rs 34 crore in the same quarter of the previous financial year. However, growth in revenue was limited and it increased by just 1 per cent to Rs 549.9 crore on a annual basis.
The company’s operating profit i.e. EBITDA (Earning Bifor Interest, Tax, DPRRISATION and Emortification) stood at Rs 124 crore during the June quarter, which is 21.4 per cent of its total income. This is better than 19.3% of the previous quarter.
The company’s chairman and chief mentor Ashok Suta said, “Our strong start in the June quarter shows that clients are trusting us and our digital capabilities are proving effective. We believe in innovation and long-term value creation using the strength of generative AI and deep technology. And this quarter is a strong step in the same direction. “
The company added 17 new clients in this quarter, which has now increased to 285 its total clients. The new clients include a global home improvement retail chain, a multinational logistics company and an American airport. The company’s atrition rate (employee leaving rate) stood at 18.2% at the end of the June quarter, while its total number has reached 6,523.
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