Happiest Minds posts profit of Rs 60 crore, up 2 per cent

Bengaluru-based Happiest Minds on Wednesday reported a net profit of Rs 59.6 crore in Q3FY24, up 2%, quarter-on-quarter. The IT firm posted a revenue of Rs 409 crore in the third quarter of FY24, up 0.8%. In September quarter, the company had reported a revenue of Rs 406 crore. On a year-on-year basis, the revenue was up 11.7% from Rs 367 crore.

The company’s Ebitda (earnings before interest, taxes, depreciation, and amortisation) came down to 24.2% in Q3 from 24.4% in the second quarter. Before Q2, Happiest Minds reported a 25% plus Ebitda margin for 13 quarters in a row.