The company added 23 new logos in the fourth quarter, taking the total number of clients to 173. The company has 3,228 employees as of March 31, 2021 and attrition rate stood at 12.4 percent.
The company went public in the Indian stock markets in September 2020.
Bengaluru-based IT firm Happiest Minds reported Rs 36.05 crore net profit for the quarter ending March 2021, a significant rise on a year-on-year (YoY) basis.
The company’s net profit for the same quarter last year stood at Rs 5.3 crore. However, the revenue fell on sequential basis by 14.5 percent. The company reported Rs 220.71 crore in revenues for the quarter, up 18.4 percent YoY, against Rs 186.35 crore for the same period last year.
For the year ended March 2021, the company’s revenue stood at Rs 773 crore, up 10.8 percent from FY20. Its net profit was Rs 162.46 crore, up 126.6 percent from last year.
Ashok Soota, Executive Chairman, Happiest Minds Technologies said in a statement, “The highlight for the year FY21 was our successful IPO. We have been able to fulfill 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.”
The company went public in the Indian stock markets in September 2020. In a separate statement, the company said that it has utilised the entire proceedings of the IPO, which amounts to Rs 110 crore through fresh issue, as of March 31, 2021.
The company added 23 new logos in the fourth quarter, taking the total number of clients to 173. The company has 3,228 employees as of March 31, 2021 and attrition rate stood at 12.4 percent.
Joseph Anantharaju, Executive 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 geographies have demonstrated impressive growth, especially Middle East and Europe.”
