Happiest Minds Technologies Ltd Q4FY21 consolidated net profit drops QoQ to Rs. 36.05 crore

Happiest Minds Technologies Ltd has reported financial results for the period ended March 31, 2021.

Financial Results (Q4 FY20-21) - QoQ Comparison

The company has reported total income of Rs.223.74 crores during the period ended March 31, 2021 as compared to Rs.201.29 crores during the period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.36.05 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.42.15 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.2.48 for the period ended March 31, 2021 as compared to Rs.2.89 for the period ended December 31, 2020.

Financials	Q4 FY20-21	Q3 FY20-21	% Change
Total Income	₹ 223.74 crs	₹ 201.29 crs	11.15%
Net Profit	₹ 36.05 crs	₹ 42.15 crs	-14.47%
EPS	₹ 2.48	₹ 2.89	-14.19%

Financial Results (Q4 FY20-21) - YoY Comparison

The company has reported total income of Rs.223.74 crores during the period ended March 31, 2021 as compared to Rs.190.21 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.36.05 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.5.30 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.2.48 for the period ended March 31, 2021 as compared to Rs.0.39 for the period ended March 31, 2020.

Financials	Q4 FY20-21	Q4 FY19-20	% Change
Total Income	₹ 223.74 crs	₹ 190.21 crs	17.63%
Net Profit	₹ 36.05 crs	₹ 5.30 crs	580.19%
EPS	₹ 2.48	₹ 0.39	535.9%

Financial Results (Year ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.797.65 crores during the 12 months period ended March 31, 2021 as compared to Rs.714.23 crores during the 12 months period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.162.46 crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.71.71 crores for the 12 months period ended March 31, 2020.

The company has reported EPS of Rs.11.45 for the 12 months period ended March 31, 2021 as compared to Rs.5.36 for the 12 months period ended March 31, 2020.

Financials	Year Ended FY20-21	Year Ended FY19-20	% Change
Total Income	₹ 797.65 crs	₹ 714.23 crs	11.68%
Net Profit	₹ 162.46 crs	₹ 71.71 crs	126.55%
EPS	₹ 11.45	₹5.36	113.62%

Ashok Soota, Executive Chairman, Happiest Minds Technologies said, "The highlight for the year FY21 was our successful IPO. We have been able to fulfil all our promises and are grateful to our customers, our team, and all stakeholders, who helped make this possible. As we begin FY22, we will look to achieving 20 percent organic growth as indicated at the time of our IPO."

Venkatraman N, MD & CFO, Happiest Minds Technologies talking on the financials said, "Our fiscal year revenue growth of 6.3% in US$ terms is reflective of our business model which positions us as a go to player for customers building a digital ready enterprise. Revenues for the quarter grew sequentially by 15.4% which includes Pimcore Global Services (PGS) the Company we acquired earlier during the Quarter. Our growth for the quarter even on a standalone basis has been robust. Considering our performance, strong cash generation and capital allocation priorities, I am happy to highlight the maiden divided of ₹ 3 per share recommended by the Board."

Joseph Anantharaju, Exec. Vice Chairman, Happiest Minds Technologies said, "We continue to see good demand for digital skills across verticals, with good growth in EduTech, Industrial & Manufacturing and Retail. All our geos have demonstrated impressive growth, especially Middle East and Europe. We are truly among India's best companies to work, as reflected in our high Glassdoor rating of 4.3 and low attrition levels of 12.4%".

Source : Equity Bulls

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