Happiest Minds aims to lower revenue dependency on US to below 65%

Happiest Minds Technologies, which last week reported a 30 per cent jump in net income at over Rs 44 crore for the September quarter, wants to bring down its dependency on the world’s largest software market US to under-65 per cent on a sustainable basis.

The US is the single largest revenue head for all domestic software companies primarily because the country is the most tech-savvy market with the highest adoption levels and also the largest investor in technology and automation.

On average, the US gives 48 per cent of the revenue to domestic software companies, down from 55-60 per cent earlier. For Happiest Minds, that is still much higher at close 70 per cent on average barring in Q2 when it slipped to 66 per cent.