Quess Corp - a leading business services provider - said that in the second quarter of the current financial year ending 30 September 2021, its revenues went up by 8 per cent to Rs 3228 crore compared to the first quarter. Its revenues were up by 23 per cent compared to the same quarter in the previous year.

However, the company’s net profit was down 8 per cent to Rs 41 crore compared to Rs 45 crore in the first quarter. The company said that the decrease in net profit was due to ‘Rs 35 crore extraordinary non-cash charge.’

The company said its net debt position had improved to Rs 68 crore in the second quarter compared to Rs 151 crore it had on its books in the first quarter. The company has also declared an interim dividend of Rs 4 per share.

Quess primarily provides staffing and managed outsourcing services across processes such as sales & marketing, customer care, after sales service, back-office operations, manufacturing, facilities and security management, HR & F&A operations, IT & mobility services to a variety of industries. Quess said that it had more than 400,000 employees, serving a little over 3000 clients across India, North America, APAC and West Asia..

Commenting on the results, MD & Group CEO Mr. Suraj Moraje said, “We are enthused by the business’ strong growth, especially in our Workforce Management and Global Technology Solutions platforms. We are also very excited by the performance of our Monster and QJobs businesses. These results are a testament to our strong focus on execution and transformational business improvements over the past quarters. We are optimistic about the business outlook, as we continue to deepen our capabilities in sales, technology-led hiring & delivery, operational efficiencies, and cash generation.”

On Friday Quess shares were down by Rs 2.65 to end the day at Rs 937 per share apiece.

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