• Financial performance: Q1 revenues grew 14.3% year-over-year, adjusted PAT rose 14.7%, and adjusted EPS reached ₹5.34 (annualized to ~₹21). Constant currency growth came in at 2.9% quarter-on-quarter, alongside 4% INR growth.
• Operating margin: Operating margins stood at approximately 17.5%, staying within the guided 17% to 18.5% band despite one-time costs, without which margins would have reached around 19%.
• Growth drivers: Revenue growth was led across verticals by Healthcare and Hi-Tech (both growing 9–10%), BFSI, and Retail, with softness limited to manufacturing and TME. Geographically, performance was driven by India (contributing 19% of revenue), APAC, and the Middle East.
• Revenue guidance: Happiest Minds maintained its full-year FY27 constant currency growth guidance of 12.5% in dollar terms, despite current year-over-year constant currency growth tracking between 6.9% and 7%.