Bengaluru-based IT firm Happiest Minds reported revenues of ₹549.9 crore, as compared to ₹463.8 crore a year ago, an increase of 18.5 per cent.
Revenue in constant currency rose by 2.3% quarter-on-quarter (QoQ) and 17.5% year-on-year (YoY), according to an official statement.
The company reported ₹13.54 crore in Generative AI Business Services (GBS), which was ₹7.13 crore when the company started its GBS operations in Q1FY25.
Ashok Soota, chairman & chief mentor, attributed the strong start to the confidence its customers have on the company’s differentiated digital capabilities.
“As we harness the transformative power of Generative AI and deep tech, Happiest Minds remains steadfast in delivering purposeful innovation and long-term value,” he said in the statement.
He added that with a sharp focus on mindful execution, customer-centricity, and technology leadership, “the company is well-positioned to sustain double-digit growth for the year and have laid a foundation for achieving three consecutive years of double-digit growth.”
Key deal wins included: delivering GenAI services to drive innovation and boost productivity for a global logistics company, and serving as the implementation partner for a US-based insurance and financial solutions firm by deploying GenAI-powered workflow automation.
Commenting on the performance, Joseph Anantharaju, co-chairman & CEO, said that the momentum reflects the contribution of the ten transformations the company has undertaken to drive growth.
“Our differentiated capabilities in Generative AI, Data, and Cybersecurity—combined with our verticalised 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 said.
Venkatraman Narayanan, managing director, shared that even as Happiest Minds continues to invest in AI and strengthen its sales engine, the company has delivered 20 quarters of sequential growth with a robust EBITDA of 21.4%.
“Our unwavering focus remains on driving sustainable growth, enhancing operational efficiency, and consistently creating long-term value for our shareholders,” he said.
The company’s operating revenue in US dollars stood at $64.4 million, reflecting a 2.3% QoQ and 15.9% YoY growth.
EBITDA for the quarter stood at ₹124.05 crore, forming 21.4% of total income, with a 12.9% QoQ and 6.3% YoY growth.
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