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

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In short

The company incurred an exceptional charge of Rs 3.98 crore during the period to advance its planned amalgamation into ITC Infotech. Operational revenue expanded 12.5 percent year-on-year to reach Rs 645.43 crore, though net profit dipped 8 percent from the preceding quarter. Amid these corporate transitions, the board authorized an interim dividend payout to reward its equity shareholders.

Key points

  • ITC Infotech will purchase a 22.10 percent stake from promoter Ashok Soota before amalgam…: ITC Infotech will purchase a 22.10 percent stake from promoter Ashok Soota before amalgamating Happiest Minds into its operations.
  • The consolidated corporate strategy targets the development of an AI-first business gener…: The consolidated corporate strategy targets the development of an AI-first business generating 1 billion dollars by FY28.
  • Shareholders will receive an interim dividend of Rs 3.05 per equity share scheduled for d…: Shareholders will receive an interim dividend of Rs 3.05 per equity share scheduled for distribution starting mid-November.

Sources checked by our analysis pipeline: 1

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…

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