Quess reports 8% growth in Q3 revenues on back of tech solutions business

Business services provider Quess Corp on Friday announced that it earned revenues of Rs 4842 crore during the December quarter with a year-on-year (YoY) growth of 8% and a net profit of Rs 84 crore with a YoY growth of 162%.

The company, in a press release, said it has recorded a robust Ebitda of Rs 181 crore, a jump by 24% YoY. The board approved an interim dividend of Rs 4 per share for the current fiscal year.

Quess ED & Group CEO Guruprasad Srinivasan attributed the Ebitda performance to the consistent non-linear growth in the company’s Global Technology Solutions platform, a focus on profitable growth in the Operating Asset Management platform, and a significant reduction of 50% in the burn rate of its AI-driven recruitment product foundit.


The company, he added, completed the amalgamation of its fully owned subsidiaries Conneqt Business Solutions, MFX Infotech and Greenpiece Landscape India, post NCLT approval, during the quarter, as part of its corporate structure simplification process.

“In our Workforce Management platform, the successful addition of 13,000 in headcount is due to our vertical focus strategy, which has yielded results in the manufacturing and BFSI sectors that now collectively contribute over 45% of our business,” Srinivasan said.

The group runs business under the broad verticals of global technology solutions (GTS), operating asset management (OAM), workforce management (WFM) and product led business (PLB). Telecom active infrastructure achieved its best-ever performance during the quarter, driven by the rollout of 5G technology. In workforce management, the company added 87 new customer contracts.

Profitable growth in each platform, with margin improvement and operational consolidation are the key themes for the coming quarters, the press release said.