IT firm Happiest Minds Technologies Ltd. fourth-quarter consolidated net profit grew 11% to ₹58 crore while revenue from operations climbed 26% from the year-earlier period to ₹378 crore. For the full fiscal, the company reported a 28% YoY growth in net profit to ₹231 crore and its revenue from operations jumped 31% to ₹1,430 crore.
Happiest Minds made campus offers to 450 freshers in FY23 and all of them would come onboard in FY24. During the current fiscal, the company would hire 1,300.
“I would take a 1% hit on profitability and say let’s honour all our commitments rather than delaying or denying jobs to freshers,’‘ said Ashok Soota, Executive Chairman while responding to query related to some tech firms deferring the onboarding of campus recruits or denying job offers.
“There is a history of companies delaying it. But, we have a philosophy of saying we don’t want to. We have always had a philosophy of saying we never layoff,’‘ he said while addressing a media conference here on Monday.
The company gave out a revenue growth guidance at 25% for FY24. In Q4, the company had a total employee base of 4,917 at the end of the March quarter, with a net addition of 306 employees. Its attrition on a trailing 12-month basis stood at 19.8%.
