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BW Businessworld

Happiest Minds Q2FY21: Revenue Grows 5.4% Sequentially In Dollar Terms

Total Income stood at Rs 18,791 lakhs (growth of 0.5% q-o-q / growth of 3.4% y-o-y)

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Happiest Minds Technologies has announced its consolidated results today for the second quarter ended September 30, 2020, as approved by its Board of Directors.







Particulars    Q2 FY 21    Q1 FY 21    QoQ    Q2 FY 20    YoY Revenue ($'000)    24,712    23,444    5.4%    24,889    (0.7)% Revenue (₹ lakhs)    18,791    18,699    0.5%    18,068    3.4% EBITDA (₹ lakhs)    4,939    4,782    3.3%    3,353    47.3% EBITDA %    26.3%    25.6%    71 bps    18.3%    730 bps PAT (₹ lakhs)    3,408    5,018    (32.1)%    2,667    27.8% PAT %    18.1%    26.8%    (870) bps    14.6%    350 bps
H1 FY 21    H1 FY 20    YoY 48,156    48,650    (1.0)% 37,490    34,845    7.6% 9,721    5,938    63.7% 25.9%    17.0%    890 bps 8,426    4,503    87.1% 22.5%    12.9%    960 bps


 

Mr. Ashok Soota, Executive Chairman:

“We would like to express our gratitude for a very successful IPO and extend a warm welcome to all our new shareholders. We specially want to express gratitude to our customers for their ongoing support and record level of appreciations received during these COVID times. We are happy to report a good all-round performance this quarter and this is a testimony of our digital focus, agility and commitment to all our stakeholders.”

Mr. Venkatraman Narayanan, Exec. Director & CFO:

“We are happy to present our 1st results after going public. In our business we continue to build depth and capabilities in the digital services space results of which are visible. Despite the environment we have shown growth in revenues on a sequential basis and bettered our EBITDA both sequentially and on a year over year basis.  On PAT, in the immediately preceding quarter instead of a provision for Income-tax we had a one-time credit for deferred taxes and from the current quarter we have reverted to normal provisions.”


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