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Informist, Friday, Jul. 24, 2026

By Diksha Singh

MUMBAI - Information technology firm Happiest Minds Technologies Ltd. is expected to report significant growth in its net profit for the June quarter due to strong momentum in its healthcare vertical and stability in the education technology vertical, according to brokerages tracking the company. The company's profit growth will outpace its revenue growth due to operational efficiencies and the depreciation of the rupee.

The company's consolidated net profit for the June quarter is expected to rise nearly 9% on quarter to INR 627 million, according to the average of estimates from five brokerages. On a year-on-year basis, the company's net profit will be up 10% from INR 571.30 million. Happiest Minds had reported a net profit of INR 577 million for the March quarter. The highest estimate for the company's June quarter net profit is INR 650 million from Axis

Securities Ltd. and the lowest is INR 600 million from Indsec Securities and Finance Ltd.

Happiest Minds is expected to report consolidated net sales of INR 6.28 billion for the June quarter, up nearly 4% sequentially from INR 6.04 billion, according to the estimates. On a year-on-year basis, net sales are expected to rise more than 14% from INR 5.50 billion. The highest estimate for net sales is INR 6.35 billion from Anand Rathi Share and Stock Brokers Ltd. and the lowest is INR 6.20 billion from Indsec Securities.

The company's June quarter top line growth is likely to be driven by constant currency revenue growth from its banking-as-a-service platform 'Arttha' and growth in the company's healthcare vertical, brokerages said.

The company's earnings before interest and tax for the June quarter are expected at INR 872 million, according to the estimates. The highest estimate for the EBIT is INR 900 million from Indsec Securities and the lowest is INR 855 million from Centrum Broking Ltd. The company's June quarter EBIT margin is expected to improve 40 basis points sequentially to 13.8%, brokerages said. The EBIT margin expansion is likely to be led by revenue growth, operational efficiencies, and the depreciation of the rupee, brokerages said.

Investors will watch out for company guidance on contribution from the newly acquired companies and performance of its education-technology,

healthcare, and banking business verticals.

Happiest Minds will announce its June quarter earnings Monday. The company's shares closed almost 2% up at INR 372.55 apiece on the National Stock Exchange. The stock is trading flat since the company announced its March quarter earnings on May 28.

All five brokerage reports on the company available with Informist have a "buy" recommendation on the stock with a target price of INR 491 per share, which is 32% higher than the current market price.

Following are the Apr-Jun earnings estimates for Happiest Minds from five brokerages, in descending order of the estimate of net profit, in INR million:

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Pankaj Aher

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