Happiest Minds' net profit up 25 pc in Q4, on track to $1 billion revenue by FY31

New Delhi, May 7 (IANS) IT company Happiest Minds Technologies on Tuesday reported 25 per cent increase in net profit at Rs 72 crore for Q4, as revenue went up 10 per cent to Rs 417 crore.

Ashok Soota, Executive Chairman of Happiest Minds, said that the company is on course towards accomplishing $1 billion in revenues by FY31.

For the full fiscal year (FY24), the net profit increased 7.5 per cent to Rs 248.39 crore as sales grew 13.7 per cent to Rs 1,624 crore.

The board has recommended a final dividend of Rs 3.25 per equity share of face value of Rs 2 for the financial year 2023-24.

"The newly-created GenAI business unit, creation of six new Industry Groups and successful closure of two acquisitions has put us back on course towards accomplishing our long-term vision of $1 billion in revenues by FY31," said Soota.

Venkatraman Narayanan, MD and CFO, said that the acquisition of PureSoftware Technologies and Macmillan Learning "should help us in our growth story while delivering value to all our stakeholders".

Late last month, Happiest Minds acquired Noida-based PureSoftware Technologies for Rs 779 crore to strengthen its domain capabilities in banking, financial services, insurance (BFSI) and healthcare and life sciences verticals.