Happiest Minds reported a whopping 34% growth in its net profit in Q2FY23

Happiest Minds posted a strong PAT growth of 34 per cent from INR 44 crores in Q2FY22 to INR 59 Crores in its second quarter of FY23 on consolidated basis. During the quarter, the company’s revenue from operation was INR 356 Crores, growth of 34 on year-on-year (YoY) basis.

During the Q2 FY23, the company’s EBITDA was up by 26.3 percent to INR 94 Crores while the EPS grew by 34 percent (Y-O-Y) to INR 4.09

In a statement, Ashok Soota, Executive Chairman at Happiest Minds said, “We have yet again delivered on our promise of delivering industry leading growth with profitability. Our results reflect the 360-degree value we create for our customers with our breadth and depth of offerings”.

Interestingly, the company added 16 new clients in the Q2 FY23 while Headcount-wise, there were 4,581 Happiest Minds as of September 30, 2022 (net addition for the quarter 393). Trailing 12 months attrition stood at 23.5 per cent.

The Board of Directors of the Company at their meeting held on October 20, 2022 has declared an interim dividend of Rs 2 per equity share of face value Rs 2 for the financial year 2022-23. Record date for the purpose of interim dividend has been fixed on November 3, 2022 and the dividend will be paid on and after November 15, 2022.