Happiest Minds Technologies , a digital transformation and IT solutions company, has recorded sequential revenue growth of 6.2 per cent in Q4FY22.
Further, the company’s operating revenues this quarter stood at $39.9 million (growth of 5.5 per cent q-o-q and 31.9 per cent y-o-y). Total income in the quarter was reported to be ₹31,048 lakhs, which is a growth of 6.2 per cent q-o-q and 38.8 per cent y-o-y.
Happiest Minds said its EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter was ₹8,158 lakhs, 26.3 per cent of total income, which is growth of 6.1 per cent q-o-q and 39.0 per cent y-o-y. PAT (profit after tax) was ₹5,211 lakhs, this is a growth of 6.5 per cent q-o-q and 44.5 per cent y-o-y.
For FY22 year, the company reported an operational revenue of $146.6 million (growth of 40.2 per cent y-o-y) and total income of ₹113,075 lakhs (growth 41.8 per cent y-o-y). Company’s EBITDA was ₹ 29,477 lakhs, which is 26.1 per cent of total income (growth of 36.9 per cent y-o-y). Happiest Minds PAT for FY22 was ₹18,120 lakhs (growth of 11.5 per cent y-o-y).
Ashok Soota, Executive Chairman, said, “With a growth of 40.9 per cent in constant currency, we have delivered industry-leading growth with a superior margin profile. The performance validates our efforts over the years to scrupulously stitch a culture of innovation, collaboration and being mindful to the needs of our customers and stakeholders.”
Venkatraman N, MD & CFO, said, “I am very happy with our financial results while remaining cautiously optimistic of the future. Focus will be on maintaining growth, both organic and in-organic while not taking our eyes off profitability, cash flows and leverage. “
Joseph Anantharaju, Executive Vice Chairman, Happiest Minds Technologies, “The rapid adoption of digital technologies is forcing companies cutting across industries to innovate rapidly and take advantage of newer technologies and paradigms to significantly enhance customer experience. Our deep expertise in the building blocks of Digital such as IoT, AI, Cloud, and RPA, along with next-gen technologies such as Blockchain, AR/VR, and Robotics has made us a strategic partner of choice to many of these companies, leading to robust demand and deep long-lasting relationships.”
Published on
May 06, 2022
