Happiest Minds: The stock witnessed sharp volatility today, jumping 7.53 per cent to an intraday high of Rs 636.10 before trimming gains to close just 1.01 per cent higher at Rs 597.50. This suggested profit booking at higher levels even as the stock managed to end in the green.
Amid industry headwinds, Happiest Minds is making bold moves to stay ahead—restructuring leadership under its APEX initiative, building a 500-strong GenAI unit, and pivoting to SaaS.
"Middle East will become a significant contributor over the next year, and we will be making more investments in the region," a top company executive stated.
Happiest Minds Technologies Ltd. reported a net profit of Rs 50 crore for the quarter ending Sept. 30, 2024, marking a 3% sequential decline from the previous quarter's Rs 51 crore. Revenue for the second quarter, however, grew by 12% sequentially, reaching Rs 522 crore, up from Rs 464 crore in the June quarter. The company's operating margin stood at 13.2% for the period. In constant currency terms, revenue rose 7% quarter-on-quarter and surged by 28.2% year-on-year, while dollar revenue was up by 3% sequentially and 27% year-on-year. Happiest Minds also announced an interim dividend of Rs 2 per share. Watch Venkatraman Narayanan, MD & CFO, Happiest Minds Technologies and Joseph Anantharaju Executive Vice Chairman & CEO, PDES, Happiest Minds Technologies on Q2 Results And Future Growth Plans.
Happiest Minds Technologies has reported a notable decline in Profit After Tax (PAT) for Q1 FY25, with figures falling to Rs 51.03 crore. This marks a 29.1% drop from the previous quarter and a 12.5% decrease year-on-year (YoY). Quarterly revenue rose to Rs 463.83 crore, up from Rs 417.29 crore in Q4 FY24 and Rs 390.87 crore in Q1 FY24. EBITDA reached Rs 116.71 crore, accounting for 23.9% of total income, reflecting a 13.3% year-over-year increase. Free cash flows stood at Rs 115.69 crore, and diluted Earnings Per Share (EPS) were reported at Rs 3.39. Venkatraman Narayanan, MD & CFO, and Joseph Anantharaju, Executive Vice Chairman & CEO – Product & Digital Engineering Services (PDES) of Happiest Minds Technologies, speak to Business Today TV to discuss Q1 earnings and the company’s growth strategy for FY25.
The company announcement came after market hours today. Shares of Happiest Minds took a sharp beating in today's trading session as the counter settled 9.44 per cent lower at Rs 830.45.
The acquisition, executed through a share purchase agreement, will see Happiest Minds obtaining 100 percent equity interest in PureSoftware, thereby making it a wholly-owned subsidiary of the company
Happiest Minds Technologies share price today: Happiest Minds Technologies shares fell over 1% to Rs 795.15 against the previous close of Rs 809.65 on BSE. Market cap of the firm fell to Rs 12,203 crore.
Happiest Minds share price: The stock today surged 6.59 per cent to hit a day high of Rs 889.30 over its previous close of Rs 834.35. At today's high price, the scrip has slipped 13.01 per cent from its one-year high value of Rs 1,022.30, a level seen on June 22 last year.
Happiest Minds Technologies has announced its financial results for Q3FY24, revealing a 3.5% increase in consolidated net profit, reaching ₹59.6 crore compared to ₹57.5 crore in the same period the previous year. The IT services company experienced a notable 12% surge in revenue from operations during the third quarter of the current fiscal, reaching ₹410 crore, up from ₹367 crore in the corresponding period the previous year. Earnings before interest, tax, depreciation, and amortization (EBITDA) for the December quarter rose by 8.2% to ₹105 crore, surpassing the ₹97.2 crore recorded in the year-ago period. Happiest Minds Technologies proudly announced that it has exceeded EBITDA profit guidance for the fifteenth consecutive quarter. However, the EBITDA margin for the third quarter stood at 19.7%, a decline from the 24.4% reported in the same period the previous year. BTTV's Sakshi Batra speaks with Happiest Minds top management, Venkatraman Narayanan, MD & CFO, and Joseph Anantharaju, Executive Vice Chairman & CEO, Product Engineering.
For Friday, share market analyst from a domestic brokerage has assigned 'Buy' calls on RIL, Zensar Tech and Happiest Minds. Check price targets and other crucial details.





