Happiest Minds profits up 580% in Q4, earnings up 18%

Bengaluru-based IT company Happiest Minds reported strong profits in the fourth quarter. Happiest Mind’s profit in the fourth quarter (2020-21) increased by 580 per cent to Rs 36 crore compared to the same period last year. The company’s revenue grew 18.4 percent year-on-year in the fourth quarter to Rs 220.7 crore. If you look at the company’s revenue in US dollars, it grew 18 per cent year-on-year in the March quarter and 15.4 per cent on a quarter-on-quarter basis and reached $ 3.02 million.

IPO received tremendous response last year

Happiest Minds Technology was listed in the stock market last year. Its stock was listed on the first day at a premium of 111 per cent. Share Earlier, the company’s IPO had also received tremendous response. Before starting IT services startup Happiest Minds, its founder Ashok Suta took the Mind Tree to heights. Its IPO was subscribed 100 times in 2007.

Happiest Mind makes IT start-ups attractive to investors

When Ashok started Happiest Mind as a startup and IT services were not considered a very attractive field for investors. The conditions were not so favorable then. Here his previous record played an important role. Within four months of starting a discussion with the venture fund, the investors’ money was in the bank account. Ashok got help from this also, he himself was willing to put big money in it. The presence of strong founders’ team helped in both cases. After Corona transition, the demand for IT start has increased. Investors are investing money in it.

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