Home / Companies / Company Results /  Happiest Minds Q3 PAT rises 18% to 57.6 cr, revenue picks up too

Digital transformation IT consulting & services company, Happiest Minds Technologies garnered a consolidated net profit of 57.58 crore in the December 2022 quarter (Q3FY23) period. The latest PAT climbed by 17.70% from a profit of 48.92 crore recorded in Q3FY22, while it was up by 3.1% from the 59.41 crore profit witnessed in Q2 of FY23.

Consolidated revenue from contracts with customers stood at 366.88 crore --- increasing by 29.21% from 283.94 crore in the third quarter of last year. However, revenue surged by 3.2% from 355.51 crore in September 2022 quarter.

During the quarter under review, EBIT came at 79.5 crore, while margins were at 21.7%.

Overall, total income on a consolidated basis stood at 374.68 crore in Q3FY233 versus 292.28 crore in Q3FY22 and 359.33 crore in Q2FY23.

On a standalone basis, Q3FY23 PAT came in at 57.27 crore versus 44.78 crore in Q3FY22 and 55.31 crore in Q2FY23. Revenue stood at 344.76 crore in Q3FY23 versus 265.88 crore in Q3FY22 and 337.65 crore in Q2 of FY23.

Post Q3 results announcement, Happiest Minds' share price traded lower by a percent. At the time of writing, on BSE, the stock was performing at 874.35 apiece down by 0.75%. The stock has touched an intraday high and low of 889.80 apiece and 858.45 apiece respectively. Its market cap is over 12,841 crore as of now.

Happiest Minds enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency, and actionable insights.

The company's services are across industry sectors such as automotive, BFSI, consumer packaged goods, e-commerce, edutech, engineering R&D, hi-tech, manufacturing, retail, and travel/transportation/hospitality.

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