Page 2 - Happiest Minds

Happiest Minds profit rises 58% to Rs 56.34 crore in June quarter

IT company Happiest Minds on Friday posted a 57.7 per cent increase in consolidated profit after tax at Rs 56.34 crore in the June quarter. The company had reported a profit of Rs 35.73 crore in the year-ago period. The consolidated revenues from contracts with customers of the company grew 34.5 per cent to Rs 328.92 crore during the quarter under review. The same stood at Rs 244.61 crore in the year-ago period. "We have started fiscal year 2023 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 FY23 to 25 per cent while targeting to grow at a CAGR (Compound Annual Growth Rate) of 25 per cent over the next 5 years," Happiest Minds Executive Chairman Ashok Soota said in a statement.

Happiest Minds buys 2.4 lakh sq ft office space for Rs 101 cr in Bengaluru

IT company Happiest Minds Technologies has purchased a fully built-up ready-to-use commercial property spread over 2.4 lakh square feet in Bengaluru for Rs 101 crore, the company said on Friday. The facility with a seating capacity of 1,600 seats is in the technology hub of Electronics City. Financially, the purchase is funded substantially through borrowings from banks at very favourable terms. The transaction is positive from a P&L perspective while adding a significant asset to our balance sheet," Happiest Minds Technologies managing director and CFO Venkatraman Narayanan said in a statement. "We have structured repayments in a manner such that cash flows are neutral in the medium and positive in the long term, Narayanan added. The facility enhances the company's seating capacity in Bengaluru by about 30 per cent and is in-line with expansion plans and objective of strengthening delivery capabilities across existing and newer locations like Bhubaneswar.

Morgan Stanley Investment Funds offloads Rs 105-cr shares of Happiest Minds

The shares were disposed of at an average price of Rs 800 apiece, valuing the transaction to Rs 105.12 crore

Happiest Minds Tech net income up 45% to Rs 52 crore amid high attrition

During the quarter, the mid-sized software firm said, its revenue rose to Rs 310 crore, clipping at 38.8 per cent year-on-year and 6.2 per cent sequentially

Happiest Minds Technologies Q3 net profit jumps 16.1% to Rs 48.92 cr

IT firm Happiest Minds Technologies Ltd on Friday reported a 16.1 per cent jump in consolidated net profit to Rs 48.92 crore for the December 2021 quarter. The company had posted a net profit of Rs 42.15 crore in the year-ago period. Its revenue during October-December 2021 grew 47.2 per cent to Rs 283.94 crore as compared with Rs 192.84 crore in the year-ago period, a regulatory filing said. Venkatraman N, MD and chief financial officer of Happiest Minds Technologies, said the company continues to deliver all-around healthy financial and business performance. "Revenue growth of 47.2 per cent, Ebitda at 26.1 per cent, robust cash generation and healthy capital return ratios are testimony to this. "Coupled with onboarding talent and healthy utilisation levels, we are well-positioned to address the strong demand environment for digital services," he added. The company's operating revenues in dollar terms stood at USD 37.8 million, a growth of 5.5 per cent q-o-q and 44.2 per cent ..

Happiest Minds aims to lower revenue dependency on US to below 65%

On average, the US gives 48 per cent of the revenue to domestic software companies, down from 55-60 per cent earlier.

Happiest Minds Technologies second quarter profit up 30% to Rs 44 cr

The IT company had posted a net profit of Rs 34.08 crore in the year-ago period

IPO frenzy: 24 stocks that more than doubled your money in two years

Given the subscription levels of some of the recent IPOs, analysts have started to be cautious and suggest investors do not subscribe to every IPO that hits the Street

Happiest Minds Technologies June quarter profit declines by 29%

IT firm Happiest Minds Technologies Ltd has reported a nearly 29 per cent decline in consolidated net profit to Rs 35.73 crore in the June 2021 quarter.

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Here's what technical charts suggest regarding the buzzing stocks of the day.

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Happiest Minds hits new high, rallies 103% so far in current fiscal

A combined 11.57 million equity shares of the company had changed hands on the NSE and BSE at the time of writing this report

Stocks to watch: L&T, DRL, UPL, Eicher Motors, Happiest Minds, Tata Power

Royal Enfield said it has decided to shut down its two manufacturing facilities between May 13-16 amid a second Covid wave

Happiest Minds March qtr net up 580%, firm offers double-digit pay hikes

Revenue up 18% to Rs 186 cr; profit was lower sequentially

Happiest Minds Technologies' Q4 consolidated net profit zooms to Rs 36 cr

In dollar terms, the revenue stood at $30.2 million, up 18 per cent year-on-year and 15.4 per cent sequentially

Happiest Minds surges 14%, hits new high on heavy volumes

In the past three months, the stock has soared 96 per cent, against less than 1 per cent gain in the S&P BSE Sensex

Stock picks by Sameet Chavan: Buy Happiest Minds, Prakash Industries

The recent price chart displays a 'Bullish Flag' breakout in Happiest Minds' stock

Two stock ideas by Vinay Rajani: Buy Happiest Minds, Godrej Industries

Support for the Nifty is seen at 14,500 and with that as a stop loss, traders should remain bullish

Happiest Minds Technologies surges 14%, hits new high amid heavy volumes

Brokerage Nomura initiate coverage on Happiest Minds Technologies with a 'Buy' rating and target price of Rs 480 per share

Happiest Minds acquires Pimcore Global Services for $8.25 million

Happiest Minds Technologies Ltd will acquire US-based Pimcore Global Services for USD 8.25 million (about Rs 60 crore). Houston-based Pimcore Global Services is a digital e-commerce and data management solutions company. "Happiest Minds Technologies Ltd has concluded and signed definitive agreements to acquire 100 per cent ownership interest of PGS Inc (doing business as Pimcore Global Services) for a consideration of USD 8.25 million," Happiest Minds said in a regulatory filing late Friday night. The acquisition will further strengthen Happiest Minds' offerings and leadership in the digital transformation space, it added. It will also help create greater digital capital for customers and facilitate onboarding more customer logos of strategic consequence. The acquisition is subject to customary closing conditions and is expected to close in the quarter ended March 31, 2021. The filing noted that PGS has a strategic partnership with Pimcore Austria for delivering solutions around .