Happiest Minds Technologies Limited, a ‘Born Digital. Born Agile’, digital transformation and IT solutions company, today announced its consolidated results for the first quarter ended June 30, 2022 as approved by its Board of Directors.

Happiest Minds , Q1FY23 Results

Financial highlights for Q1FY23 ended June 30, 2022

in Rs(crores)Q1FY2022Q4FY2022Q1FY2023YoYQoQ
Revenue1,2071,1831,051-12.92%-11.16%
EBITDA191154130-31.94%-15.58%
EBITDA Margin15.82%13.02%12.37%-345Bps-65Bps
PAT916853-41.76%-22.06%
PAT Margin7.54%5.755.04%-250Bps-71Bps
EPS (INR)0.680.470.37
  • Operating Revenues in US$ stood at $42.2 million (growth of 5.9 % q-o-q; 27.4% y-o-y)
  • Total Income of ₹ 33,274 lakhs (growth of 7.2% q-o-q; 31.1% y-o-y)
  • EBITDA of ₹ 8,775 lakhs, 26.4% of Total Income (growth of 7.6% q-o-q; 32.7% y-o-y)
  • PAT of ₹ 5,634 lakhs (growth of 8.1% q-o-q; 57.7% y-o-y)
  • Free cash flows of ₹ 8,639 lakhs
  • EPS (diluted) for the quarter of ₹ 3.88 (growth of 8.4% q-o-q; 58.4% y-o-y)

Ashok Soota, Executive Chairman, “We have started fiscal FY23 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 FY 23 to 25% while targeting to grow at a CAGR of 25% over the next 5 years”

Happiest Minds; Total Income of Rs 33,274 lakhs (growth of 7.2% q-o-q; 31.1% y-o-y), PAT of Rs 5,634 lakhs (growth of 8.1% q-o-q; 57.7% y-o-y)