EBITDA grows YoY by 13.3% to ₹ 117 Crores BENGALURU, India and SEATTLE and LONDON, Aug. 13, 2024 /PRNewswire/ -- Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a 'Born Digital. Born Agile', a digital transformation and IT solutions company, today announced its consolidated results for the first quarter ended June 30, 2024, as approved by its Board of Directors. Ashok Soota, Executive Chairman, said, "Happiest Minds has begun the new fiscal year by setting the foundation for the best performance since our IPO. Establishment of Gen AI business services, BU reorganization with industry groups into profit centers, and two excellent acquisitions have set us on a path of accelerated growth, which will be further manifested in successive quarters." Key Financial highlights Revenue in constant currency grew 11.4% q-o-q and 17.8% y-o-y Operating Revenues in US $ stood at $55.5 million growing 10.9% q-o-q and 16.8% y-o-y Total Income of ₹ 48,926 lakhs growing 10.6% q-o-q and 20.9% y-o-y EBITDA of ₹ 11,671 lakhs, 23.9% of Total Income (growth of 7.8% q-o-q and 13.3% y-o-y) PAT of ₹ 5,103 lakhs 10.4% of Total Income (decline of 29.1% q-o-q and 12.5% y-o-y)* Free cash flows of ₹ 11,569 Lakhs and EPS (diluted) at ₹ 3.39 *Decline primarily due to non-recurring expense in the current quarter vs a large exception write-back in the previous period, also increased amortization and financing costs arising from recent acquisitions All amounts in ₹ Lakhs unless stated otherwise. Particulars Q1 FY25 Q4 FY24 QoQ Q1 FY24 YoY Revenues 46,383 41,729 11.2 % 39,087 18.7 % Other Income 2,543 2,521 1,366 Total Income 48,926 44,250 10.6 % 40,453 20.9 % EBITDA 11,671 10,822 7.8 % 10,299 13.3 % % 23.9 % 24.5 % 25.5 %