Quess revenue surges 24% in June quarter

Quess Corp, India’s leading business services provider, announced its financial results for the first quarter FY 2021-22.
QuessjobQuess Corp’s revenue increased 24 percent to Rs 2,987 crore — driven by General Staffing (26 percent), Conneqt (36 percent), and Industrials (32 percent).

EBITDA of Quess Corp rose 13 percent to Rs 147 crore. PAT of Quess Corp increased 22 percent to Rs 45 crore.

Highlights

Workforce Management:

General Staffing headcount up 15 percent YoY and 1 percent QoQ. Revenue up 26 percent YoY. Core to Associate ratio at historical high of 350

IT Staffing Domestic EBITDA up 67 percent 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 percent YoY to 2.8mn. Integrated Insuretech revenue in the US up 6 percent QoQ

CLM: Revenue up 38 percent YoY and 5 percent QoQ

IT Services: Domestic Revenue up 49 percent YoY and 7 percent QoQ

Operating Asset Management:

IFM: Revenue up 5 percent YoY. Increased spend on hygiene saw pest & disinfection revenue up 68 percent YoY.

Industrial business: Revenue up 32 percent 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 percent QoQ.

Quess Corp MD & Group CEO Suraj Moraje said: “Our revenue has increased 24 percent 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 percent.”

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