Good quarterly top line and bottom line performance aided by an increase in margins | Happiest Mind Q3FY22 Conference Call Highlights
1 min read- Operating Revenues in US$ terms stood at $37.8 million (growth of 5.5% q-o-q; 44.2% y-o-y)
- Total Income of ₹ 292.2 Cr (growth of 6.6% q-o-q; 45.2% y-o-y)
- EBITDA of ₹ 76.31 Cr, 26.1% of Total Income (growth of 8.8% q-o-q; 27.8% y-o-y)
- PAT of ₹ 48.9 Cr (growth of 10.1% q-o-q; 16.1% y-o-y)
- Free cash flows of ₹ 75.85 Cr.
- Geography wise revenue: (66.6%) USA, (14.6%) India, (9.8%) Europe, (9%) Rest of the World.
- Subcontracting cost as a percentage of sales is 12% in this quarter as compared to 13.1% in Q2FY22 and 9.6% in Q3FY21. Management thinks that this cost has peaked out.
- Clients: 195 as of December 31, 2021. 11 additions in the quarter.
- Employees: 4,021 Happiest Minds as of December 31, 2021 (net addition for the quarter 225, nine-months 793). Trailing 12 months attrition of 21.1%, Utilization of 81.0%, from 79.7% in last quarter. Added 500 freshers in the 9-month period (from Mar21- Dec-21).
- Digital forms 96% of the revenues as compared to 96.7% in Q2FY22.
- Client concentration: Top 1 contributes (13%) and Top 5 (30.6%) of the total revenue.
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