Happiest Minds Technologies , a digital transformation company, has reported strong financial results for the quarter ended June 30, marking its 20th consecutive quarter of sequential growth.

Financial Highlights

Happiest Minds delivered impressive financial performance for the quarter:

The company achieved a 2.30% quarter-on-quarter growth in constant currency revenue.

Operational Performance

Happiest Minds continues to expand its client base and workforce:

• Serving 285 clients
• 6,523 employees
• Utilization rate of 78.90%

Key Project Wins and Partnerships

The company secured significant partnerships across various sectors, including:

• Retail
• Logistics
• Healthcare
• Insurance
• Education
• Mining
• Furniture

These projects focus on GenAI services, cloud migration, and digital transformation.

Awards and Recognition

Happiest Minds' excellence has been acknowledged through several accolades:

• CNBC-TV18 India Risk Management Award
• Recognition from AIM Research and Everest Group for capabilities in data engineering and process automation

As Happiest Minds Technologies continues to invest in emerging technologies like generative AI and maintains its focus on digital transformation services, it remains well-positioned for sustained growth and value creation for its stakeholders.

Happiest Minds Technologies Limited , a digital transformation and IT solutions company, has announced strong financial results for the first quarter, demonstrating robust growth and profitability.

Key Financial Highlights

• Revenue reached $64.40 million, growing 2.3% quarter-on-quarter and 17.5% year-on-year in constant currency
• Total income stood at ₹57,993.00 lakhs, up 1.7% q-o-q and 18.5% y-o-y
• EBITDA of ₹12,405.00 lakhs, representing 21.4% of total income
• Profit After Tax (PAT) of ₹5,713.00 lakhs, 9.9% of total income
• Adjusted PAT of ₹6,862.00 lakhs, 11.8% of total income

Operational Performance

Happiest Minds continued to expand its client base and maintain strong operational metrics:

• Active clients increased to 285, with 17 new additions in Q1
• Employee count stood at 6,523
• Utilization rate improved to 78.9% from 77.3% in the previous quarter
• Trailing 12-month attrition rate at 18.2%

Strategic Wins and Partnerships

The company secured several key wins across various sectors:

• Custom-building solutions for a Global Home Improvement Retail Chain
• Providing Gen AI services for a Multinational Logistics Company
• Implementing a database transformation program for a US Healthcare company
• Partnering with an Australian Furniture & Homewares retailer for data platform modernization

Management Commentary

Ashok Soota, Chairman & Chief Mentor, emphasized the company's focus on Generative AI and deep tech, stating, "We are well-positioned to sustain double-digit growth for the year and have laid a foundation for achieving three consecutive years of double-digit growth."

Joseph Anantharaju, Co-Chairman & CEO, highlighted the company's strong performance, noting, "Our differentiated capabilities in Generative AI, Data, and Cybersecurity—combined with our verticalized structure—position us as the partner of choice."

Venkatraman Narayanan, Managing Director, pointed out the company's consistent growth, saying, "We have delivered 20 quarters of sequential growth with a robust EBITDA of 21.4%."

Industry Recognition

Happiest Minds' performance and capabilities have been recognized by industry analysts:

• Named among 'Seasoned Vendors' in AIM Research's PeMa Quadrant for Data Engineering Service Providers
• Positioned as 'Aspirants' in Everest Group's Intelligent Process Automation (IPA) Solutions PEAK Matrix® Assessment

The company also won the CNBC-TV18 India Risk Management Award, further validating its operational excellence.

With its strong financial performance, expanding client base, and focus on cutting-edge technologies, Happiest Minds Technologies appears well-positioned for continued growth in the digital transformation and IT solutions market.