BENGALURU: Happiest Minds Technologies Ltd posted a 27.8% year-on-year increase in net profit to ₹34.08 crore for the second quarter ended September. However, on a sequential basis, the net profit declined 32% due to a one-time credit for deferred taxes in the first quarter. This is the company’s first earnings after its successful initial public offering (IPO) in September that was subscribed over 150 times. The revenue for the second quarter grew 3.4% y-o-y and 0.5% sequentially to ₹187.91 crore driven by broad-based growth from verticals like edutech, e-commerce, high-tech, banking, and digital media. The company made a net addition of 63 employees in the second quarter taking the total headcount to 2,721 employees.

Source: Mint November 05, 2020 04:18 UTC