Happiest Minds reported a 30.5% year-on-year jump in revenue to ₹544.57 crore in the fourth quarter of FY25, powered by strong deal momentum in verticals like healthcare and BFSI and growing investments in GenAI.
Despite the robust revenue growth, net profit for the quarter fell 52.76% to ₹34 crore due to a one-time bad debt and continued investments in growth areas.
For the full fiscal year, revenues climbed 26.85% to ₹2,060.84 crore, while net profit declined 25.66% to ₹184.66 crore compared to the previous year.
Ashok Soota, executive chairman, said, “The ten strategic transformational changes that we rolled out are shaping Happiest Minds’ future. Our strategic initiatives, along with the continued commitment of our teams, have us well-positioned for strong double-digit organic growth in FY26 and beyond.”
The company’s GenAI business unit and its newly established new logo (NN) hunting team have begun contributing to the pipeline, reflecting management’s confidence in long-term revenue acceleration.
“Our move to a vertical structure has resulted in accelerated growth in several verticals like Healthcare and BFSI,” said Joseph Anantharaju, co-chairman & CEO.
“We continue to see an increase in the share of the Healthcare vertical, which saw large new deals totalling $20 Mn from 4 customers. The transformations around GenAI and the NN hunting team have seen a good buildup in the pipeline that should result in revenue growth.”
EBITDA for the full year stood at ₹462.24 crore, representing a margin of 21.4%, in line with guidance. “Adjusted for a one-time bad debt and continued investments in Gen AI and Sales teams, operating margin and EBITDA continue to be industry leading,” said Venkatraman Narayanan, MD & CFO.
During Q4, the company added 14 new clients, bringing the total to 281. The quarter also saw significant project wins, including an AI-powered end-user chat platform for a global market research agency, connected product development for a US manufacturer, and risk consulting for a Middle Eastern bank.
Attrition stood at 16.6% on a trailing 12-month basis, and employee count reached 6,632.
