Happiest Minds Technologies reported a 12.5% YoY revenue growth to Rs 645.4 crore for Q2 FY27, with a profit after tax of Rs 62.2 crore. The company announced an interim dividend of Rs 3.05 per share, payable after November 17, 2026. Investors should note the progress of the ITC Infotech merger, which remains on track for potential completion by November 2027.
Happiest Minds Q2 FY27: Revenue Rises 12.5% to Rs 645.4 Crore
Profit after tax reaches Rs 62.2 crore, marking a 15.1% year-on-year increase.
Reader Takeaway: Robust 95.1% repeat business and rising margins drive performance, though merger regulatory timelines require close investor monitoring.
What just happened
Happiest Minds Technologies has posted its Q2 FY27 financial results, reporting consolidated revenue of Rs 645.4 crore, up from Rs 573.6 crore in the same quarter last year. The company saw its EBITDA grow to Rs 142.0 crore, while the profit after tax rose to Rs 62.2 crore. Alongside the earnings, the Board of Directors declared an interim dividend of Rs 3.05 per equity share.
Why this matters
The steady growth in revenue and a strong 95.1% repeat business rate demonstrate the company's resilience in the IT services sector. The reduction in trailing 12-month attrition to 14.3% signals improved operational efficiency and human capital stability. Furthermore, the completion of non-convertible debenture redemption as of September 2026 strengthens the firm's balance sheet position.
The merger update
The strategic merger with ITC Infotech, announced in August 2026, is currently progressing through regulatory reviews. The company stated that it is awaiting clearance from the Competition Commission of India and relevant stock exchanges. Management currently anticipates the listing of the combined entity's securities by November 2027.
Dividend payout details
Investors holding shares as of the record date, November 6, 2026, will be eligible for the Rs 3.05 interim dividend. The payout is scheduled to commence on or after November 17, 2026.
Risks to watch
The primary risk factor remains the regulatory approval process for the merger with ITC Infotech. Investors should keep a close watch on potential delays or additional conditions imposed by the Competition Commission of India that could alter the projected 2027 completion timeline.
Context metrics
- Revenue Growth: 12.5% YoY
- Operating Margin: 18.5%
- Total Employee Strength: 6,466
- Utilization Rate: 81.8%
What to track next
Watch for official announcements regarding regulatory clearances for the ITC Infotech merger and monitor subsequent quarterly updates to see if the firm maintains its current revenue growth trajectory amidst changing macroeconomic conditions.