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NSE Aug 12, 2022 15:31 PM
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IT Consulting & Software firm Happiest Minds Technologies Announced Q1FY23 Result :

  • Happiest Minds declares Industry leading sequential growth in constant currency of 6.9%. Raises revenue guidance for FY23 to 25% and to target compounded annual growth of 25% over the next 5 years.
  • Operating Revenues in US$ stood at $42.2 million (growth of 5.9 % QoQ; 27.4% YoY)
  • Total Income of Rs 33,274 lakhs (growth of 7.2% QoQ; 31.1% YoY)
  • EBITDA of Rs 8,775 lakhs, 26.4% of Total Income (growth of 7.6% QoQ; 32.7% YoY)
  • PAT of Rs 5,634 lakhs (growth of 8.1%QoQ; 57.7% YoY)
  • Free cash flows of Rs 8,639 lakhs
  • EPS (diluted) for the quarter of Rs 3.88 (growth of 8.4% QoQ; 58.4% YoY)

Ashok Soota, Executive Chairman, “We have started fiscal FY23 showing industry leading performance. Our 10-year vision statement is to be a billion-dollar Company by 2031. In line with this goal, based on the growth we are experiencing and continued demand for digital services, we are increasing our revenue guidance for FY 23 to 25% while targeting to grow at a CAGR of 25% over the next 5 years”

Venkatraman N, MD & CFO “I am very happy with our performance for the quarter. While we make changes to our revenue guidance reflecting our confidence on our ability to perform, we continue to hold onto our EBITDA margin guidance of 22% to 24%”

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