Happiest Minds Technologies hits lowest level since listing post Q2 results

Shares of Happiest Minds Technologies (HMT) tumbled 12.2 per cent in intra-day trading to Rs 285.55 on the BSE on Thursday after the company reported flat revenue growth sequentially at Rs 188 crore in the September quarter (Q2FY21). In dollar terms, revenue growth was 5.4 per cent over the previous quarter.

Ebitda (earnings before interest, taxes, depreciation, and amortisation) margins improved 71 basis points sequentially at 26.3 per cent from 25.6 per cent in June quarter (Q1FY21). Profit after tax (PAT) declined 32 per cent at Rs 34.08 crore against Rs 50.18 crore in Q1FY21. On year-on-year, PAT jumped 27.8 per cent from Rs 26.67 crore in Q2FY20.