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Highlights
- The presented financial data is Standalone to provide a comprehensive overview of the company performance.
- Sales over the Year and quarter: The company experienced a substantial growth of 4.3 % in the past year, decrease in net sales/revenue by -0.76 %.
- Income over the Year and quarter: There has been either a marginal increase or a decline in other income over the past year which is 87.72 %. Marginal increase in other income during this quarter, up by 1.24%.
- Profit over the Year and quarter: Challenges in sustaining profitability for Happiest Minds Technologies Limited. Profit dropped by -23.68 % Year to Year, Happiest Minds Technologies Limited’s profitability dropped by -18.71 % Quarter to Quarter.
- EPS over the Year and quarter: EPS declined by -26.88 % Year to Year. EPS decreased by -18.94 % in previous quarter. Analysis needed for shareholder value.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 357.05 Cr | Rs. 375.24 Cr | Rs. 372.4 Cr | -0.76 % | + 4.3 % |
| Expenses | Rs. 275.74 Cr | Rs. 307.7 Cr | Rs. 311.94 Cr | + 1.38 % | + 13.13 % |
| Operating Profit | Rs. 81.31 Cr | Rs. 67.54 Cr | Rs. 60.46 Cr | -10.48 % | -25.64 % |
| OPM % | 22.77 % | 18 % | 16.24 % | -1.76 % | -6.53 % |
| Other Income | Rs. 13.93 Cr | Rs. 25.83 Cr | Rs. 26.15 Cr | + 1.24 % | + 87.72 % |
| Interest | Rs. 10.11 Cr | Rs. 10.33 Cr | Rs. 17.73 Cr | + 71.64 % | + 75.37 % |
| Depreciation | Rs. 7.55 Cr | Rs. 9.13 Cr | Rs. 9.06 Cr | -0.77 % | + 20 % |
| Profit before tax | Rs. 77.58 Cr | Rs. 73.91 Cr | Rs. 59.82 Cr | -19.06 % | -22.89 % |
| Tax % | 25.96 % | 27.03 % | 26.71 % | -0.32 % | + 0.75 % |
| Net Profit | Rs. 57.44 Cr | Rs. 53.93 Cr | Rs. 43.84 Cr | -18.71 % | -23.68 % |
| EPS in Rs | Rs. 3.96 | Rs. 3.59 | Rs. 2.91 | -18.94 % | -26.52 % |
Today, we’re looking at Happiest Minds Technologies Limited’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a robust year-over-year sales growth of 4.3 %. However, it did see a marginal slip of -0.76 % from the previous quarter. Expenses ticked up slightly by 1.38 % quarter-on-quarter, aligning with the annual rise of 13.13 %. Operating profit, while down -25.64 % compared to last year, faced a quarter-on-quarter dip of -10.48 %, signaling a short-term contraction in margins.
The Operating Profit Margin (OPM) % contradicts this narrative, showing weakness on an annual basis with a decrease of -6.53 %, but a shrinkage of -1.76 % sequentially. Other income rose by 1.24 % compared to the last quarter, despite an annual growth of 87.72 %. Interest expenses surged remarkably by 71.64 % from the previous quarter, yet the year-over-year increase remains at a moderate 75.37 %. Depreciation costs fell by -0.77 % quarter-on-quarter, whereas on an annual scale, they saw an increase of 20 %. Profit before tax declined annually by -22.89 % but saw a reduction from the preceding quarter by -19.06 %.
Tax expenses as a percentage of profits increased slightly by 0.75 % compared to last year, with a more notable quarter-on-quarter decrease of -0.32 %. Net profit fell by -23.68 % year-on-year but witnessed a -18.71 % contraction from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual downturn of -26.52 % but a quarterly fall of -18.94 %. In summary, Happiest Minds Technologies Limited’s annual performance indicates steady growth, although the quarter-on-quarter figures suggest some areas may require strategic attention.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 357.05 Cr | Rs. 375.24 Cr | Rs. 372.4 Cr | -0.76 % | + 4.3 % |
| Expenses | Rs. 275.74 Cr | Rs. 307.7 Cr | Rs. 311.94 Cr | + 1.38 % | + 13.13 % |
| Operating Profit | Rs. 81.31 Cr | Rs. 67.54 Cr | Rs. 60.46 Cr | -10.48 % | -25.64 % |
| Net Profit | Rs. 57.44 Cr | Rs. 53.93 Cr | Rs. 43.84 Cr | -18.71 % | -23.68 % |
| EPS in Rs | Rs. 3.96 | Rs. 3.59 | Rs. 2.91 | -18.94 % | -26.52 % |
In reviewing Happiest Minds Technologies Limited’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales saw a robust 4.3 % year-on-year growth, although there was a slight dip of -0.76 % from the previous quarter. Expenses rose by 13.13 % compared to the previous year, with a 1.38 % increase quarter-on-quarter. Operating Profit dropped by -25.64 % annually, and saw a -10.48 % decrease from the last quarter.
Net Profit showed yearly decrease of -23.68 %, and experienced a -18.71 % decrease from the previous quarter. Earnings Per Share (EPS) fell by -26.52 % annually, however dipped by -18.94 % compared to the last quarter. In essence, while Happiest Minds Technologies Limited faces strong annual decline indicators, short-term fluctuations suggest the need for agile strategies to navigate market dynamics effectively. That’s all for now in the financial sector.
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