IT Consulting & Software company Happiest Minds Technologies announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Revenue in constant currency grew 12.7% QoQ and 28.2% YoY. Operating Revenues in USD stood at USD 62.4 million growing 12.3% QoQ and 27.0% YoY. Total Income of Rs 54,867 lakh growing 12.1% QoQ and 27.9% YoY. EBITDA of Rs 11,882 lakh, 21.7% of Total Income (growth of 1.8% QoQ and 13.4% YoY). PAT of Rs 4,951 lakh 9.0% of Total Income (decline of 3.0% QoQ and 15.3% YoY). Free cash flows of Rs 11,612 lakh and EPS (diluted) at Rs 3.29. H1FY25 Financial Highlights: Revenue in constant currency grew 23.1% YoY. Operating Revenues in USD stood at USD 117.9 million growing 22.0% YoY. Total Income of Rs 103,793 lakh growing 24.5% YoY. EBITDA of Rs 23,553 lakh, 22.7% of Total Income (growth of 13.3% YoY). PAT of Rs 10,054 lakh 9.7% of Total Income (Decline of 13.9% YoY). Free cash flows of Rs 23,181 lakh and EPS (diluted) at Rs 6.68. Ashok Soota, Executive Chairman, said: “Happiest Minds has delivered our best growth results since the last two years with 12.7% QoQ growth and 28.2% YoY growth. The transformational changes we initiated this year are all gathering momentum. These changes include the acquisition of PureSoftware and Aureus, the creation of our GenAI Business Unit (GBS), hiring a senior leader to expand net new (NN Sales), and creating six Industry Groups, each headed by an Industry Manager. The full impact of all these changes on revenue and growth will become visible in the quarters ahead.” Result PDF
Conference Call with Happiest Minds Technologies Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company Happiest Minds Technologies announced Q1FY25 results: Revenue in constant currency grew 11.4% QoQ and 17.8% YoY Operating Revenues in USD stood at USD 55.5 million growing 10.9% QoQ and 16.8% YoY Total Income of Rs 48,926 lakh growing 10.6% QoQ and 20.9% YoY EBITDA of Rs 11,671 lakh, 23.9% of Total Income (growth of 7.8% QoQ and 13.3% YoY) PAT of Rs 5,103 lakh 10.4% of Total Income (decline of 29.1% QoQ and 12.5% YoY) Free cash flows of Rs 11,569 lakh and EPS (diluted) at Rs 3.39 Venkatraman Narayanan, MD & CFO, said “The quarter was eventful, and our results for the same include that of our two acquisitions: PureSoftware and Aureus. Our revenues in constant currency grew year over year by 17.8% while EBITDA grew by 13.3%. Variation in PBT and PAT are primarily on account of non-recurring expenses in the current quarter versus a large exceptional write-back in the previous, and increased amortization and financing costs arising from acquisitions.” Joseph Anantharaju, Executive Vice Chairman, said, “Our sustained growth reflects our resilience and agility to adapt to market conditions quickly. We remain laser-focused on our client's needs and are set to leverage our Industry Groups and recent acquisitions to deliver on our client's strategic imperatives. The newly created Generative AI Business Services (GBS) is also helping us create transformative solutions that are helping customers to further extend their digital journeys.” Result PDF