The IT company's net profit jumped 30.4% to Rs 44.44 crore on 44.68% increase in revenue from operations to Rs 264.53 crore in Q2 September 2021 over Q2 September 2020.
Profit before tax rose 39.09% to Rs 59.35 crore in Q2 September 2021 over Q2 September 2020.The net profit rose 24.38% and revenue from operations rose 8.14% in Q2 September 2021 over Q1 June 2021.
EBITDA rose 6% QoQ and 42% YoY to Rs 70.12 crore in Q2 September 2021. EBITDA margin stood at 25.6% in Q2 September 2021 lower than 26.1% in Q1 June 2021 and 26.3% in Q2 September 2020.
Operating revenues in US$ terms stood at $35.8 million (growth of 8.0% q-o-q and 44.9% y-o-y). The company reported free cash flows of Rs 67.43 crore in Q2 September 2021.
The company had 186 clients as of 30 September 2021. It added 8 new clients during the quarter.
The company had 3,796 employees as of 30 September 2021 (net addition for the quarter 258, half year 568). Trailing 12 months attrition was at 18.5%.
The company's board declared an interim dividend of Rs 1.75 per equity share for the financial year 2021-22. Record date is fixed on 10 November 2021.
Joseph Anantharaju, executive vice chairman, Happiest Minds Technologies said, "We continue our growth momentum with, yet another quarter of stellar growth, driven by a strong demand environment. Given our strong brand recall as a 'Born Digital. Born Agile' company and razor-sharp focus on delivering high quality outcomes, we are able to win new logos and increase our wallet share across our existing customers."
Venkatraman N, MD & CFO, Happiest Minds Technologies talking on the financials said: "we have closed yet another good quarter with all-round performance. I am happy to state that during the first half of the year we added on a net basis, 568 happiest minds. We continue to show healthy cash flows and have improved on our capital return ratios prompting usto declare an interim dividend of 1.75 per equity share."
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. It delivers these services across industry sectors such as automotive, BFSI, consumer packaged goods, e-commerce, EduTech, engineering R&D, healthcare, hi-tech, manufacturing, retail and travel/transportation/hospitality.
Shares of Happiest Minds Technologies was down 0.41% at Rs 1305.50.
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