2 days ago
Quess Corp reports 4% rise in profits for June quarter
Business services provider Quess Corp on Monday reported a revenue of Rs 3651 crore, up 2% year-on-year, and a profit after tax (PAT) of 51 crore, up 4% year-on-year, for the June quarter. The company reported an earning per share (EPS) at Rs 3.40 for the ED & Group CEO Guruprasad Srinivasan said they have had a good start to this financial year with increased revenues and an EBITDA (earnings before interest, taxes, depreciation, and amortisation) at Rs 70 crore, up 10% year-on-year.
Professional staffing segment posted its best-ever performance, recording double-digit EBITDA margins and maintaining strong revenue growth, led by the GCC segment which contributed 73% of total revenues. In general staffing, despite the challenging macro environment Quess ended the quarter with net additions, the CEO said. 'We are also seeing encouraging festive season demand as we step into the second quarter.' The general staffing segment posted revenue at Rs 3,122 crore with EBITDA at Rs 46 crore, adding 79 new contracts in the quarter. There are over 42,000 open headcount mandates in the second quarter with a strong growth momentum leading up to the festive season, the Bengaluru-headquartered company said in a professional staffing segment posted a stellar performance in tough macro conditions, with revenues of Rs 244 crore and EBITDA at Rs 25 crore, both up by 31% and 48% year-on-year, respectively. GCCs continue to be a significant growth driver which now contributes to 73% of the revenue, the statement overseas business segment posted revenue of Rs 284 crore, with an EBITDA at Rs 18 crore, driven by Middle East and Malaysia, along with additions of 32 new contracts during the quarter. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Will TCS layoffs open the floodgates of mass firing at Indian IT firms?
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