Happiest Minds Technologies543227Information technology services
Happiest Minds reported quarterly results with constant currency growth of 6.8% YoY and 2.4% sequentially, below its own guidance
By ScoutQuest · · 1 min read
- Constant currency growth YoY
- 6.8 percent
- Sequential constant currency growth
- 2.4 percent
- Guidance for growth
- 8.5 percent
Heard on business television between 09:49:50 - 09:52:50 IST.
- Management said constant currency growth of about 7% was below their guidance of eight and a half percent.
- A large deal has been slipping from Q1 to Q2 and is now hoped to close in Q3, which would help cover the shortfall.
- Deals in banking, Adobe, and certain product solution sales are binary in nature and hoped to close in Q3-Q4.
- Management said they are not revising guidance and remain hopeful of double-digit constant currency growth for the year.
- Management pointed to half-year-over-half-year growth in operating margin, PAT and adjusted PAT as evidence of overall resilience despite a difficult environment.
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