Latest news with #HappiestMindsTechnologies
Time of India
13-05-2025
- Business
- Time of India
Happiest Minds' net profit halved in Q4 on major client default
Live Events IT services firm Happiest Minds Technologies on Tuesday reported a 32.1% on-quarter decline in net profit for Q4 FY25 to Rs 34 crore, which nearly halved compared to the fourth quarter of the previous fiscal, impacted by exceptional items on account of investments and recent acquisitions as well as a client for the January-March period grew 0.3% on-quarter and 25.6% on-year and stood at Rs 629 margins dipped from 24.5% to 14.6% on-year basis due to a Rs 12.5 crore write-off linked to a North America-based client who failed to meet payment obligations, Venkatraman Narayanan, MD and CFO, Happiest Minds told ET. However, it was purely bad debt and not related to ongoing macroeconomic factors, he clarified.'Despite the setback, we've managed to deliver stable performance. Our adjusted PAT has grown Rs 50 crore and EBITDA by Rs 100 crore year-over-year,' Narayanan said, adding that the company had invested Rs 40 crore into its new GenAI-focused business unit, which also contributed to the margin Minds' stock fell 2.59% to close at Rs 593.60 per share on the BSE company is hoping to grow with generative AI and improving macroeconomic conditions, as it looks to rebound from a tough fourth quarter impacted by a client default and sectoral Anantharaju, co-chairman and CEO said that the overall sentiment is now improving with global trade tensions easing and geopolitical risks subsiding. 'We are holding on to our guidance of double-digit revenue growth for FY26. Sentiment is definitely turning positive,' he said, noting that sectors like BFSI and healthcare are seeing renewed traction, while the high-tech vertical is stabilising post-client noted that GenAI is transitioning from proof-of-concept to full-scale deployment. 'Clients are moving from just slapping on a GenAI interface to rethinking their entire application architecture around GenAI,' he said. The company is now working on agentic AI models as well. 'We're seeing 10–25% productivity gains across software development and testing lifecycles,' he AI's impact on workforce, the company said most clients are using productivity improvements to accelerate roadmaps rather than cut costs. 'We haven't seen any client ramp-downs due to AI,' Anantharaju hiring, Happiest Minds is taking a calibrated approach. While it skipped campus hiring last year, it plans to return to campuses in the coming cycle, albeit with smaller intake. Wage hikes are still planned for July, although the final quantum will be determined closer to rollout.
News18
13-05-2025
- Business
- News18
Dividend Stock: BSE 500 IT Share Fixes Record Date For 175% Final Dividend Of FY25
Last Updated: Happiest Minds Technologies reported that its total income for the Q4 FY25 grew 28 per cent YoY to Rs 57,052 lakh. Dividend Stock: Happiest Minds Technologies has fixed the record day of Friday, July 18, 2025 for the final dividend of Rs 3.50 per equity share for the financial year 2024-25. It is subject to the approval of the shareholders at the ensuing 14th Annual General Meeting (AGM) of the company. Record date helps for r determining the list of equity shareholders in the Register of Members of the Company and the beneficial owners in the records of the Depositories as on the Record Date who will be entitled to the Final dividend declared for FY 2024-25. Happiest Minds Q4 Results Happiest Minds Technologies reported that its total income for the Q4 FY25 grew 28 per cent YoY to Rs 57,052 lakh, with EBITDA up 19.3 per cent to Rs 10,984 lakhs. EBITDA declined 6% QoQ on account of an unfortunate bad debt of Rs 1,204 lakhs while growing 1.5 per cent YoY. PAT stood at Rs 3,401 lakhs. Looking at the year ended March 31, 2025, operating revenues at $ 243.36 million, registering a growth of 24.2 per cent. Total income of Rs 216,222 lakhs with a jump of 26.4 per cent. EBITDA of Rs 46,224 lakhs, 21.4 per cent. PAT for the year ended March 31, 2025 stood at Rs 18,466 lakhs with a gain of 8.5% from the previous fiscal year. Adjusted EPS stood at Rs 16.37. digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights. It is done this by leveraging a spectrum of disruptive technologies such as: artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/ augmented reality, etc. First Published: May 13, 2025, 12:36 IST
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Business Standard
13-05-2025
- Business
- Business Standard
Happiest Minds Technologies Q4 results: Net profit drops 53% to Rs 34 crore
Mid-cap Indian IT firm Happiest Minds Technologies has reported a 52.7 per cent decline in consolidated net profit to Rs 34 crore in the March-ended quarter. It had posted a profit of Rs 71.9 crore in the year-ago period, according to a regulatory filing. Revenue for the quarter under review rose 30.5 per cent to Rs 544.5 crore, compared with Rs 417.2 crore in Q4 FY24. Sequentially, profit dropped 32 per cent, while revenue rose 2.5 per cent. The firm added 14 new clients in Q4, bringing the tally to 281. For full FY25, the Bengaluru-headquartered firm logged a profit of Rs 184.6 crore, a 25.6 per cent dip from Rs 248.3 per cent in FY24. Revenue in FY25 was recorded 26.8 per cent higher at 2,060.8 crore. The company, in March, announced a slew of apex-level changes in its organisation structure with immediate effect. As part of the rejig, Executive Vice Chairman Joseph Anantharaju was elevated to Co-Chairman and CEO, while Chairman Ashok Soota took up an additional position as the Chief Mentor of the company. "Our strategic initiatives, along with the continued commitment of our teams, have us well positioned for strong double-digit organic growth in FY26 and beyond. Economists are projecting a slowdown in some of our largest markets, I want to emphasise that we have healthy pipelines of demand and do not see any recession-driven slowdown," Soota said. The Chairman in March had exuded confidence about the firm delivering a healthy double-digit organic growth, not just in FY26 but also in FY27. "The year FY25 is witnessing flat growth for some majors and negative growth for a few others. We have delivered a healthy double-digit growth, albeit most of it is inorganic. The market is predicting a US slowdown or recession. This has clouded the prospects for the Indian IT industry. "We want to state emphatically that at Happiest Minds, we see no recession-driven see a good view ahead for the next two years," he had asserted. The company's Board has recommended a final dividend of Rs 3.5 per equity share of face value Rs 2 for FY25. Happiest Minds Technologies offers digital transformation, product engineering, and infrastructure management services. It has 6,632 employees across 13 countries.
Business Standard
13-05-2025
- Business
- Business Standard
Happiest Minds Technologies consolidated net profit declines 52.76% in the March 2025 quarter
Sales rise 30.50% to Rs 544.57 crore Net profit of Happiest Minds Technologies declined 52.76% to Rs 34.00 crore in the quarter ended March 2025 as against Rs 71.98 crore during the previous quarter ended March 2024. Sales rose 30.50% to Rs 544.57 crore in the quarter ended March 2025 as against Rs 417.29 crore during the previous quarter ended March 2024. For the full year,net profit declined 25.66% to Rs 184.66 crore in the year ended March 2025 as against Rs 248.39 crore during the previous year ended March 2024. Sales rose 26.85% to Rs 2060.84 crore in the year ended March 2025 as against Rs 1624.66 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 544.57417.29 31 2060.841624.66 27 OPM % 15.4019.89 - 17.2020.67 - PBDT 85.0997.89 -13 356.32378.95 -6 PBT 62.5483.20 -25 267.62320.66 -17 NP 34.0071.98 -53 184.66248.39 -26
Time of India
13-05-2025
- Business
- Time of India
Happiest Minds Technologies shares in focus after Q4 PAT drops 53% YoY
Shares of Happiest Minds Technologies are likely to remain in focus on Tuesday, May 13, after the company reported its Q4FY25 results , posting a 52.8% year-on-year (YoY) decline in profit after tax at Rs 34.01 crore, compared to Rs 71.98 crore in the same quarter of the previous financial year. However, revenue rose 30.5% YoY to Rs 544.57 crore, up from Rs 417.29 crore a year ago. For the full financial year 2024–25, the company's profit declined 25.7% YoY to Rs 184.66 crore, while revenues for the same period surged 26.8% YoY to Rs 2,060.84 crore. Meanwhile, EBITDA stood at Rs 109.85 crore, marginally higher than Rs 108.22 crore in the previous year. The company's board of directors has recommended a final dividend of Rs 3.5 per equity share (face value Rs 2) for FY25, subject to shareholder approval. Live Events In terms of client additions, Happiest Minds onboarded 14 new clients in Q4, taking the total to 281 clients as of March 2025. Also read: Defence stocks: There are many sides to a story. 10 defence stocks with upside potential of up to 48% Happiest Minds Share Price History Over the past year, shares of Happiest Minds have declined 24.62%. On a year-to-date (YTD) basis, the stock is down 15.98%, while the six-month and three-month periods have seen declines of 19.50% and 12.30%, respectively. However, in the last one month, the stock has gained 8.72%. On Monday, Happiest Minds shares closed 5.4% higher at Rs 609.40 on the BSE. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
