Wage hike impact on margins
Wage increases effective July 2023 could compress EBITDA margins in Q2, though management expects to stay within 20-24% band.
HAPPSTMNDS / Q1-FY24 / risks
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Material risks this quarter
medium
M&A delays may require guidance revision
Management noted that if M&A deals do not close soon, revenue guidance may be revised downward later in the year.
Softness in travel, media & entertainment vertical
One large customer in streaming media is recalibrating, delaying decisions and causing revenue softness in TME.
Elevated employee costs despite no wage hike
Employee costs were elevated in Q1 due to increased on-site costs and campus joining costs, which could persist.