Happiest Minds shares surge over 7% after profit jumps 68% in June quarter

Shares of Happiest Minds, the Bengaluru-based information technology (IT) company rose as much as 7.30% to hit an intraday high of ₹645.50 on the BSE after it reported June quarter earnings. On the National Stock Exchange, Happiest Minds shares rose as much as 7.46% to hit an intraday high of ₹646.10.

Happiest Minds on Tuesday, July 29, reported net profit of ₹57 crore in the first quarter of current financial year (Q1FY26), marking a sequential increase of 68% from ₹34 crore in the year-ago period.

The company's revenue from operations advanced 1.7% quarter-on-quarter (QoQ) to ₹580 crore from ₹570.52 crore in the year-ago period. In dollar terms, Happiest Minds revenue came in at $64.4 million, up 2.3% in constant currency terms QoQ and up 17.5% year-on-year (YoY).

“Our strong start to Q1 FY26 underscores the continued confidence our customers place in us and the impact of our 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. With a sharp focus on mindful execution, customer-centricity, and technology leadership, we are well-positioned to sustain double-digit growth for the year and have laid a foundation for achieving three consecutive years of double-digit growth,” said Ashok Soota, Chairman & Chief Mentor of the company. At the end of the first quarter, Happiest Minds had 285 clients with 17 additions in Q1. The company had total headcount of 6,523 employees.

During the quarter company announced a string of global client wins across North America, Australia, and other international markets. These engagements span finance, logistics, aviation, healthcare, insurance, education, mining and retail verticals.

Among the key deal wins, Happiest Minds is custom-developing solutions for critical finance and IT modernization programs for a leading global home improvement retail chain. For a multinational logistics giant, the company is delivering cutting-edge Generative AI (GenAI) services aimed at accelerating innovation and improving productivity through intelligent automation and insight generation.

For an Australian mining services firm, Happiest Minds is providing comprehensive IT infrastructure and cybersecurity implementation services.

“We have delivered a strong Q1 performance with revenues of US $64.4 Million, marking 2.3% q-o-q and 17.5% y-o-y growth in constant currency. This momentum reflects the contribution of the ten transformations we have undertaken to drive our growth. 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,” said Joseph Anantharaju, Co-Chairman & CEO.

As of 2:02 pm, Happiest Minds shares traded 4.4% higher at ₹628, outperforming the BSE 500 index which was up 0.57%.