Happiest Minds Share Price Down; Q2 FY25 Net Profit Falls 15% to ₹49.52 Cr

On November 13, 2024, Happiest Minds Technologies reported a profit decline due to rising operational costs, with selling, general, and administrative expenses increasing by 16.9% on a quarterly basis and 37.42% on a yearly basis.

Q2 FY25 Financial Highlights

Revenue from operations for the quarter stood at ₹521.64 crore, marking a 28.2% rise from ₹406.62 crore in Q2 FY24.

The operating income increased by 9.36% quarter-over-quarter and 0.91% year-over-year. The earnings per share (EPS) for Q2 stood at ₹3.29, marking a 15.64% decline compared to the previous year.

Describing it as the “strongest growth results in the past two years,” Executive Chairman Ashok Soota stated that the transformational changes the company implemented this year are gaining momentum.

The company reported an EBITDA of ₹11,882 lakhs, representing 21.7% of total income, with a growth of 1.8% quarter-over-quarter and 13.4% year-over-year.

The company’s board has proposed an interim dividend of ₹2.5 per equity share with a face value of ₹2 for the fiscal year 2024-25.

Share Price Performance

On November 18, 2024, Happiest Minds Technologies share price traded 1.69% lower at ₹723.35 at 11:30 AM on NSE. The stock opened at ₹736.20, slightly up from its previous close of ₹735.80. 

About Happiest Minds Technologies

Happiest Minds Technologies is a leading global provider of IT services and consulting, specialising in digital transformation. The company offers a broad range of services, including cloud solutions, AI, machine learning, data analytics, cybersecurity, automation, and enterprise applications. Focused on leveraging emerging technologies, Happiest Minds helps businesses enhance operational efficiency and customer experiences.

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