Home / Companies / Company Results /  Happiest Minds net profit jumps 44.5% to 52 crore in March quarter

Happiest Minds Technologies Ltd’s net profit for the March quarter rose 44.5% from a year ago to 52.1 crore on the back of strong revenue growth of 36.2% to 300.6 crore

The Bengaluru-based company’s dollar revenue for the March quarter grew nearly 32% from a year ago to $39.9 million as companies across industries continued to invest in digital technologies. For FY22, revenues grew 40.2% to $146.6 million.

“The rapid adoption of digital technologies is forcing companies cutting across industries to innovate rapidly and take advantage of newer technologies and paradigms to significantly enhance customer experience. Our deep expertise in the building blocks of digital such as IoT, AI, cloud, and RPA, along with next-gen technologies such as blockchain, AR/VR, and robotics has made us a strategic partner of choice to many of these companies, leading to robust demand and deep long-lasting relationships," said Joseph Anantharaju, executive vice chairman, Happiest Minds.

The company added 11 clients during the March quarter, taking the total number of clients to 206 as of 31 March.

The attrition rate for the March quarter, on a trailing 12-month basis, increased marginally to 22.7% from 21.1% in the preceding three months, indicating that the demand for tech talent continues to outpace supply, an industry-wide trend. Happiest Minds employed a total of 4,168 employees as of 31 March.

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