Happiest Minds Technologies Limited on Wednesday announced its consolidated results the third quarter ended December 31, 2020. The company’s total income stood at Rs201.29cr against Rs187.91cr in Q2FY21 and Rs175.57cr in Q3FY20 (growth of 7.1% qoq ; 14.6% yoy).
The company’s Profit After Tax (PAT) was at Rs42.15cr compared to Rs34.08cr in Q2FY21 and Rs21.38cr in Q3FY20 (growth of 23.7 % qoq; 97.1% yoy).
Operating Revenues stood at $26.2 million against $24,712 million in Q2FY21 and $24,085 million in Q3FY20 (growth of 6.0% qoq ; 8.8% yoy). EBITDA stood at Rs5,969 lakhs, 29.7% of total income (growth of 20.9 % qoq ; 112.3% yoy).
Diluted EPS for 9 months stood at Rs8.95. Free cash flows of Rs59.20cr for the quarter. RoCE & RoE (annualized) for the nine months stood at 36.2% and 33.2% respectively.
“We have a strong deal pipeline on the back of increasing market demand and are thankful to all our customers for the trust they have reposed in us. Our people are our key strength and they continue to play a critical role in our growth and ensuring customer delight,” Joseph Anantharaju, Exec. Vice Chairman and CEO – Product Engineering Services, Happiest Minds Technologies, said.
Venkatraman Narayanan, Managing Director & CFO, Happiest Minds Technologies said, “We are indeed happy to deliver another successful quarter showing good growth in revenue and profits. Revenues in US dollar terms grew yoy by 8.8% and qoq by 6.0% while our profits after tax have grown yoy by 97.1% and qoq by 23.7%. We continue to maintain and improve on key capital return ratios which are key to increasing our shareholder and stakeholder value.”
At around 10.38 am, Happiest Minds Technologies Ltd was trading at Rs3359.80 up Rs3.90 or 1.10% from its previous closing of Rs355.90 per piece on the BSE.