Happiest Minds Technologies Q1 Results Live : profit falls by 12.52% YOY
Happiest Minds Technologies Q1 Results Live : Revenue increased by 18.66% YoY & profit decreased by 12.52% YoY
Happiest Minds Technologies Q1 Results Live : Happiest Minds Technologies declared their Q1 results on 12 Aug, 2024. The company reported a significant increase in its topline, with revenue rising by 18.66% year-on-year. However, despite the robust revenue growth, the company's profit decreased by 12.52% YoY.
Comparing the performance to the previous quarter, revenue grew by 11.15%, while profit saw a steep decline of 29.11%. This indicates a challenging quarter for Happiest Minds Technologies in terms of profitability, even though revenue trends were positive.
The Selling, General & Administrative (SG&A) expenses rose by 14.12% quarter-on-quarter and increased by 27.37% year-on-year. This rise in expenses has likely contributed to the decrease in profit margins for the company.
Operating income for the quarter was down by 22.73% q-o-q and decreased by 16.37% YoY, reflecting the impact of rising costs and competitive pressures on the company's operating efficiency.
The Earnings Per Share (EPS) for Q1 stood at ₹3.39, which marks a decrease of 15.67% YoY. This decline in EPS further underscores the profitability challenges faced by Happiest Minds Technologies during the quarter.
In terms of stock performance, Happiest Minds Technologies has delivered a -0.17% return in the last week, -6.89% return over the last six months, and a -13.77% year-to-date return. These figures indicate a downward trend in investor sentiment towards the company.
Currently, Happiest Minds Technologies has a market capitalization of ₹11555.08 Cr. The company's stock has seen a 52-week high of ₹970 and a 52-week low of ₹741, reflecting significant volatility in its share price.
As of 13 Aug, 2024, out of the 4 analysts covering the company, 1 analyst has given a Hold rating while 3 analysts have recommended a Buy rating. The consensus recommendation as of this date remains to Buy, suggesting optimism about the company's long-term prospects despite the recent challenges.
Happiest Minds Technologies Financials
| Period | Q1 | Q4 | Q-o-Q Growth | Q1 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 463.82 | 417.29 | +11.15% | 390.87 | +18.66% |
| Selling/ General/ Admin Expenses Total | 299.86 | 262.77 | +14.12% | 235.43 | +27.37% |
| Depreciation/ Amortization | 22.04 | 14.69 | +50.03% | 14.24 | +54.78% |
| Total Operating Expense | 401.02 | 336.02 | +19.34% | 315.78 | +26.99% |
| Operating Income | 62.8 | 81.27 | -22.73% | 75.09 | -16.37% |
| Net Income Before Taxes | 68.41 | 96.15 | -28.85% | 78.68 | -13.05% |
| Net Income | 51.03 | 71.98 | -29.11% | 58.33 | -12.52% |
| Diluted Normalized EPS | 3.39 | 4.14 | -18.21% | 4.02 | -15.67% |
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