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Quess Corp’s consolidated net profit for the first quarter of FY23 grew 52 per cent to ₹68 crore on a year-on-year basis compared to ₹45 crore in the same quarter last year.
It posted ₹3,979 crore of revenues for Q1, an increase of 33 per cent over the Q1FY22 figures of ₹2,987 crore.
“All our large businesses have continued to demonstrate exceptional growth, driving our consolidated revenues up by 33 per cent YoY and 5 per cent quarter-on-quarter. As we get into the festive season, usually the largest hiring season in India, we continue to invest in technology and have strengthened our business teams to take advantage of this opportunity. We are confident these investments will help gain market share and take our ROE to 20 per cent,” said Guruprasad Srinivasan, ED and Group CEO.
EBITA for this quarter increased by 4 per cent to ₹153 crore YoY, up from ₹147 crore in Q1FY22. Its EBITDA margin declined 106 bps to 3.85 per cent from 4.92 per cent in June 2022. According to the business services provider, factors such as increased cash burn in product-led businesses, increase in revenue from 5.2 per cent to 5.6 per cent, and increased spending on technology contributed to the decline in profit margins.
Quess provides technology-enabled staffing and managed outsourcing services across processes such as sales, marketing, customer care, after-sales service, back office operations, manufacturing, facilities, and security management, IT and mobility services.
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