Happiest Minds Technologies Q3 net profit jumps 16.1% to Rs 48.92 cr

IT firm Happiest Minds Technologies Ltd on Friday reported a 16.1 per cent jump in consolidated net profit to Rs 48.92 crore for the December 2021 quarter.

The company had posted a net profit of Rs 42.15 crore in the year-ago period.

Its revenue during October-December 2021 grew 47.2 per cent to Rs 283.94 crore as compared with Rs 192.84 crore in the year-ago period, a regulatory filing said.

Venkatraman N, MD and chief financial officer of Happiest Minds Technologies, said the company continues to deliver all-around healthy financial and business performance.

"Revenue growth of 47.2 per cent, Ebitda at 26.1 per cent, robust cash generation and healthy capital return ratios are testimony to this.

"Coupled with onboarding talent and healthy utilisation levels, we are well-positioned to address the strong demand environment for digital services," he added.

The company's operating revenues in dollar terms stood at USD 37.8 million, a growth of 5.5 per cent q-o-q and 44.2 per cent y-o-y.

The company added 11 clients in the quarter, with the total number standing at 195 at the end of the December 2021 quarter.

The company's headcount stood at 4,021 persons as of December 31, 2021, with a net addition for the quarter at 225. Its trailing 12-month attrition stood at 21.1 per cent, the statement said.