Happiest Minds Technologies reported 10.1% rise in consolidated net profit to Rs 48.92 crore on a 7.3% rise in revenue to Rs 283.94 crore in Q3 FY22 over Q2 FY22.
As compared to Q3 FY21, the company's net profit and revenue are higher by 16.1% and 47.2%, respectively.
EBITDA in the third quarter was Rs 76.31 crore, up 8.8% QoQ and 27.8% YoY.
In dollar terms, its operating revenue stood at $37.8 million up by 5.5% QoQ and 44.2% YoY.
The company had 4,021 employees at the end of the reporting quarter, with a net addition of 225 people in Q3. The trailing 12-months attrition was at 21.1%. Happiest Minds added 11 new clients in the third quarter taking the tally to 195 total clients. Utilization rate in Q3 was 81%, as against 79.7% in last quarter.
Joseph Anantharaju, executive vice chairman, said, Our compelling offerings have made us the partner of choice for our customers in their Experience, Data and Cloud initiatives. The stellar results validate the value proposition that we offer our customers and the critical role we play in their strategic digital initiatives.
Venkatraman N, MD & CFO said, We continue to deliver all-around healthy financial and business performance. Coupled with onboarding talent and healthy utilization levels, we are well-positioned to address the strong demand environment for Digital services.
Happiest Minds Technologies, an IT solutions company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights.
The scrip advanced 0.87% to end at Rs 1146.15 on the BSE yesterday.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU