Happiest Minds Q3 profit dips 16%, revenue up 27%
Happiest Minds Technologies reported a 16% year-on-year (YoY) drop in net profit for the third quarter ending December 2024 at Rs 50.1 crore (from Rs 59.6 crore in Q3FY24) impacted by investment outlay. The profit stood at Rs 59.6 crore in the third quarter a year ago.
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Revenue during the quarter rose 27% from a year ago to Rs 627.2 crore, from 493.7 crore in Q3FY24. Sequentially, both the profit and revenue rose slightly by 1.2% from Rs 49.5 crore and 0.5% from Rs 623.8 crore, respectively.
“There is a margin expansion, so profitability in terms of percentage to your top line, yes, it may have retreated, adjusted slightly, but you should focus on growth of profit YoY which is just like we revenue growth has happened 28% in constant currency and in rupee terms almost 30%,” said Venkatraman Narayanan, managing director and chief financial officer.
Its operating margin were squeezed to 17.5% from 17.9% in previous quarter and 20.1% from a year ago. Without the investments, the Ebidta margin stood at 21.1% as against 21.7% in Q2FY25 and 24.2% in Q3FY24.
Happiest Minds estimated a guidance of 20-22% Ebidta range going forward.
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