Happiest Minds Q2 Results: Profit rises 15% to Rs 62 crore; revenue up 12% to Rs 645 crore

The Bengaluru-headquartered company had posted a net profit of Rs 54.02 crore for the year-ago period, according to a regulatory filing.

Revenue from operations rose 12.5 per cent to Rs 645.43 crore, from Rs 573.57 crore in Q2 FY26.

Sequentially, profit declined 8 per cent, while revenue rose 2.7 per cent.

"Our strong results reflect the continued strength of our client relationships and our focus on disciplined execution. Enterprises are increasingly looking for partners who can bring together deep domain understanding, engineering capabilities and AI-led transformation to deliver measurable business outcomes. With the complementary capabilities that ITC Infotech brings to the table, we are excited at the potential to add further value to our customers and deepen our relationship," Joseph Anantharaju, Co-Chairman & CEO, said.

The quarter's results included an exceptional charge of Rs 3.98 crore incurred towards the company's proposed merger with ITC Infotech, the filing said.

ITC Infotech, a wholly-owned subsidiary of diversified conglomerate ITC Ltd, will merge with Happiest Minds Technologies to create an AI-first enterprise with a USD 1 billion turnover by FY28.

As a precursor to the merger, ITC Infotech will acquire a 22.10 per cent stake from Happiest Minds promoter Ashok Soota and Ashok Soota Medical Research LLP.

Following the stake purchase, Happiest Minds will be amalgamated with and into ITC Infotech.

The company's headcount stood at 6,466 at the end of September, compared with 6,532 at June-end and 6,554 a year earlier.

The board declared an interim dividend of Rs 3.05 per equity share of face value Rs 2 for 2026-27. The record date is November 6, and the dividend will be paid on or after November 17.