Quess Corp delivers robust Q3FY25 performance; revenue up 14% YoY and PAT up 34% YoY to ₹85 crs
Quess Corp, India’s leading business services provider announced its Q3 and 9M FY25 financial results today.
Q3FY25 Highlights
Revenue at ₹5,519 cr up by 14% YoY and 7% QoQ
EBITDA at ₹197 cr up by 6% YoY and 1% QoQ
PAT at ₹85 cr up by 34% YoY and down 9% QoQ
Board has approved an interim dividend of ₹4 per share
9MFY25 Highlights
Revenue of ₹15,702 cr up by 11% YoY
EBITDA at ₹581 cr up by 13% YoY
PAT at ₹290 cr up by 59% YoY
Gross debt levels at ₹224 crs, reduced by ₹145 crs since Mar’24
Particulars (in ₹ Cr.) | Q3 FY25 | Q3 FY24 | YoY | Q2FY25 | QoQ | 9M FY25 | 9M FY24 | YoY |
Headcount | 6,16,790 | 5,56,699 | 11% | 6,09,214 | 1% | 6,16,790 | 5,56,699 | 11% |
Total Revenue | 5,519 | 4,842 | 14% | 5,179 | 7% | 15,702 | 14,190 | 11% |
Reported EBITDA | 197 | 186 | 6% | 196 | 1% | 581 | 513 | 13% |
Reported EBITDA% | 3.6% | 3.8% | (26 bps) | 3.8% | (20 bps) | 3.7% | 3.6% | 9 bps |
Profit before Tax | 89 | 59 | 50% | 102 | (13)% | 309 | 201 | 54% |
PBT Margin | 1.6% | 1.2% | 38 bps | 2.0% | (37 bps) | 2.0% | 1.4% | 56 bps |
PAT | 85 | 64 | 34% | 94 | (9)% | 290 | 182 | 59% |
PAT Margin | 1.5% | 1.3% | 23 bps | 1.8% | (26) bps | 1.8% | 1.3% | 56 bps |
Diluted EPS – Rs | 5.4 | 4.3 | 26% | 6.1 | (12)% | 18.5 | 12.3 | 51% |
Commenting on the performance, ED & Group CEO Mr. Guruprasad Srinivasan said, “We are pleased to report a consistent double-digit revenue growth and a healthy earnings profile, along with gross debt reduction to ₹224 crs and a dividend of ₹4 per share. Our year-to-date performance reflects a non-linear profitable growth trajectory, highlighted by double-digit growth in both Revenue and EBITDA.
Our Workforce Management platform achieved a significant milestone of surpassing 500k headcount delivering robust revenue growth, driven by demand in Retail and Telecom, and strong hiring trends in GCCs. Global Technology Solutions continued its strong momentum, benefiting from increased contributions from international markets, while Operating Asset Management saw solid topline growth, particularly in Telecom and Industrial sectors. On the 3-way demerger, we are on track for and currently awaiting NCLT approval.
We are also delighted to announce that Quess Corp has been certified as A Great Place to Work for the 6th consecutive year, reaffirming our dedication to fostering a positive and empowering workplace culture.”
Q3FY25 Platform highlights
Workforce Management:
Headcount crossed 500k associates – 503k with an addition of 5k led by Telecom, Retail
Strong sales growth with 124 new contracts and ACV of ₹150+ crs
GCC salience in domestic IT staffing continues with focus on niche, higher margin profiles
Global Technology Solutions:
61 new contracts with ACV ~ ₹147 crore
Tech & Digital led the growth with 5% QoQ growth; Platform business was up 11% QoQ
EXM Payroll processed 4.4 mn pay slips with 2% QoQ growth
Operating Asset Management:
52 new contracts with an ACV of ₹171 cr
15% YoY revenue growth driven by 30%+ growth in Industrial O&M and Telecom
Acquisition of food catering and FM business of Archer Integrated Services
Product Led Business:
Revenue declined by 29% QoQ amidst a weak hiring season and headwinds in the IT/ITeS
Strategic shift towards job quality and organic job postings
Particulars (in ₹ Cr.) | Q3FY25 | Q3FY24 | YoY | Q2FY25 | QoQ | 9MFY25 | 9MFY24 | YoY |
Workforce Management | ||||||||
Revenue | 4,047 | 3,430 | 18% | 3,747 | 8% | 11,416 | 9,966 | 15% |
Reported EBITDA | 92 | 90 | 3% | 92 | 0% | 272 | 260 | 5% |
Reported EBITDA % | 2.3% | 2.6% | (34) bps | 2.4% | (17) bps | 2.4% | 2.6% | (23) bps |
Global Technology Services | ||||||||
Revenue | 646 | 588 | 10% | 625 | 3% | 1,881 | 1,736 | 8% |
Reported EBITDA | 111 | 108 | 3% | 109 | 1% | 327 | 312 | 5% |
Reported EBITDA % | 17.1% | 18.3% | (116) bps | 17.5% | (36) bps | 17.4% | 18.0% | (58) bps |
Operating Asset Management | ||||||||
Revenue | 800 | 695 | 15% | 768 | 4% | 2,301 | 2,090 | 10% |
Reported EBITDA | 38 | 36 | 4% | 37 | 2% | 110 | 102 | 8% |
Reported EBITDA % | 4.7% | 5.2% | (52) bps | 4.8% | (12) bps | 4.8% | 4.9% | (11) bps |
Product Led Business* | ||||||||
Revenue | 26 | 36 | (29)% | 39 | (35)% | 104 | 108 | (4)% |
Reported EBITDA | (9) | (14) | 37% | (8) | (14)% | (25) | (63) | 61% |
Reported EBITDA % | (33.6)% | (37.9)% | nm | (19.2)% | nm | (23.7)% | (58.4)% | nm |
*PLB revenue and EBITDA adjusted for Qdigi divestment
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