IT firm Happiest Minds Technologies Ltd reported a manifold growth in consolidated net profit at Rs 36.05 crore in the March 2021 quarter. The company, which got listed on BSE and NSE last year, had posted a net profit of Rs 5.30 crore in the year-ago period.
In an interview with CNBC-TV18, Venkatraman Narayanan, MD & CFO and Joseph Anantharaju, EVC & CEO-product engineering services at the company spoke at length about numbers and business going ahead.
First up, Narayanan said, “We are seeing demand from across all the geographies that we are operating in and on quarter on quarter (QoQ) we have done well in the rest of the world essentially the Middle East where we had a couple of large wins and existing accounts expanding nicely.”
“India is also continuing its growth and so is the US. Europe was below 10 percent for a long period of time and that has also gone to 11 percent. So it’s been a secular growth across all the geographies we are present in,” said Narayanan.
On margins, Anantharaju said, “We are present in verticals that have not been impacted much by COVID. Therefore, we feel confident that we will be able to get to double-digit – 20 percent on organic growth, which is also the medium-term balance that we provided. We also completed the acquisition of Pimcore Global Services (PGS) in Q4 which will add to the growth.”
“We have not been providing guidance but 22-24 percent margin range for EBITDA is something that we are comfortable over medium-term,” he said.
For the entire management interview, watch the video