Quess Corp Limited, leading business services provider with its future-ready digital platforms, registered a profit after tax at Rs 45 crore during Q1 of FY2022, registering a growth of 22% compared with the same period last year. The company’s profit was Rs 36 crore during the 1st quarter of FY 2021.
The IT company’s revenue for the quarter touched Rs 2,987 crore, registering a growth of 24% YoY driven by General Staffing (26%), Conneqt (36%), and Industrials (32%).
Commenting on the results, Quess Managing Director and Group CEO Suraj Moraje said the company’s revenue has increased 24% YoY and stayed flat QoQ, despite the second COVID wave during Q1.
“Our ongoing investments in verticalised capabilities, technology and operating improvements will continue to power our momentum as we stay firmly focused on achieving an ROE of 20%,” said Suraj Moraje.
Other highlights
· Workforce Management:
§ General Staffing headcount up 15% YoY and 1% QoQ. Revenue up 26% YoY. Core to Associate ratio at historical high of 350
§ IT Staffing Domestic EBITDA up 67% YoY. Focus continues to be on ramping up delivery capabilities, leveraging technology assets in sourcing, screening, on-boarding and deploying candidates
· Global Technology Solutions:
§ Platform based services: HRO platform payslips processed up 31% YoY to 2.8mn. Integrated Insuretech revenue in the US up 6% QoQ
§ CLM: Revenue up 38% YoY and 5% QoQ
§ IT Services: Domestic Revenue up 49% YoY and 7% QoQ
· Operating Asset Management:
§ IFM: Revenue up 5% YoY. Increased spend on hygiene saw pest & disinfection revenue up 68% YoY.
§ Industrial business: Revenue up 32% YoY
· Emerging Business: Monster India showing continued improvement in customer acquisition & retention metrics. Qjobs continues to grow by steadily adding 213K new jobs, up 46% QoQ
Established in Bengaluru in 2007, Quess Corp Limited is India’s leading business services provider – leveraging its extensive domain knowledge and future-ready digital platforms to drive client productivity through outsourced solutions.
Quess provides a host of technology enabled staffing and managed outsourcing services across processes such as sales and marketing, customer care, after sales service, back office operations, manufacturing, facilities and security management, HR and F&A operations, IT & mobility services etc.
Quess has a team of around 3, 69,000 employees, serving around 3,000 clients across India, North America, APAC and the Middle East as on 31st July 2021.
