Happiest Minds Q2 Results: Net profit falls marginally to Rs 58 crore

Happiest Minds Technologies has reported a 1.6 per cent decline in net profit to Rs 58 crore for the September quarter. The company had posted a profit of Rs 59 crore in the year-ago period, it said in a regulatory filing late on Tuesday.

Revenue in constant currency terms for the Bengaluru-headquartered company rose 14.3 per cent to Rs 406.6 crore from Rs 355.5 crore a year earlier.

The company has reduced revenue growth guidance for this fiscal from 25 per cent to 12 per cent on an organic basis based on market trends, Happiest Minds Executive Chairman Ashok Soota said.

The company also announced a Generative AI business unit (GBS) "to capitalise on the transformative impact of Generative AI".