Happiest Minds Q1 profit up 12 pc to ₹57 cr; revenue rises 18.5 pc to ₹550 cr
The Bengaluru-headquartered IT firm had logged a profit of ₹ 51 crore in the same period last year.
Revenue from operations in the quarter improved 18.5 per cent to ₹ 549.9 crore, as compared to ₹ 463.8 crore a year ago. Sequentially, the profit surged 67.9 per cent, but revenue rose marginally by 0.9 per cent.
CEO Joseph Anantharaju attributed the momentum to the 10 strategic changes and initiatives the company outlined before the start of the fiscal year.
Happiest Minds implemented 10 major changes, including leadership restructuring, acquisitions, expansion into new geographies, and the launch of new business units and AI services.
These initiatives are aimed at driving double-digit, organic growth in FY26 and FY27, building a future-ready organisation, and increasing operational efficiency while expanding global and technological capabilities.
"Our differentiated capabilities in Generative AI, Data, and Cybersecurity—combined with our verticalized structure—position us as the partner of choice. We remain confident in our ability to scale impact and drive sustainable growth for our clients and stakeholders," Anantharaju, who assumed the position of company Co-Chairman and CEO in March this year, said.
The company added 17 new clients during the first quarter of the fiscal year, bringing its tally to 285 as of June 30, 2025.
The employee count at the end of Q1 FY26 stood at 6,523, a decline of 109 from the previous quarter.
Furthermore, the company's board approved the amalgamation of Happiest Minds Technologies with its wholly-owned subsidiary, Aureus Tech Systems Private Ltd.
Through this amalgamation, the companies expect to pool resources, achieve operational synergies and cost savings, optimise logistics, and simplify the group structure by reducing statutory compliances.
In 2024, Happiest Minds acquired Aureus Tech Systems, a digital product engineering firm based in the US, for USD 8.5 million (around ₹ 71 crore).
Happiest Minds Technologies offers digital transformation, product engineering, and infrastructure management services.
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