Happiest Minds Technologies Q1 Results Live : profit falls 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.