Quess Corp Q2 revenue up 9% YoY to ₹5,179 crore and PAT up 32% YoY to ₹94 crore
Quess Corp, India’s leading business services provider announced its Q2 and H1 FY25 financial results today.
Q2FY25 Highlights
Revenue at ₹5,179 cr up by 9% YoY and 4% QoQ
EBITDA at ₹196 cr up by 16% YoY and 4% QoQ with increase in margin by 23 basis points YoY
PAT at ₹94 cr up by 32% YoY and down 16% QoQ
H1FY25 Highlights
Revenue of ₹10,182 cr up by 9% YoY
EBITDA at ₹384 cr up by 17% YoY with increase in margin by 27 basis points YoY
PAT at ₹205 cr up by 72% YoY
Net cash at ₹334 cr, increased by ₹102 cr from March’24, H1’25 OCF to EBITDA at 86%
Gross debt levels at ₹ 253 crore, reduced debt by ₹ 117 crore in H1FY25
Commenting on the results, ED & Group CEO Mr. Guruprasad Srinivasan said, “We are pleased to report a solid quarter with quarterly revenue of ₹ 5,179 crore and EBITDA margin uptick of 23 bps YoY, underpinned on broad-based performance across our platforms. During the quarter, Quess became a 6,00,000+ headcount strong organisation. WFM delivered healthy topline growth with headcount additions in Retail and Logistics verticals, and increasing salience of GCCs supported IT staffing. Improving international contribution in GTS and growth in F&B and telecom business in OAM contributed to higher realisations.
Our committed approach of financial and operational prudence has resulted in increased business efficiencies. We have also been strategically investing to strengthen platform-wise capabilities to ensure they are optimally positioned for future opportunities. We are progressing on-track towards our proposed demerger and are confident of long-term value creation for our stakeholders.”
Q2FY25 Platform highlights
Workforce Management
Headcount reached 498k with an addition of 15k led by BFSI, Logistics, M&I, Retail and Telecom
128 new contracts with an ACV of ₹101 cr, 74 new contracts added in General Staffing
IT staffing witnessed steady quarter with GCC contribution at 68% by revenue
Global Technology Solutions
53 new contracts with ACV of ~₹117+ cr led by BFSI and E-commerce
CLM revenue growth of 18% YoY & 4% QoQ led by growth across international and domestic businesses
EXM processed 4.3 mn pay slips during Q2 with 6% QoQ growth and 13% YoY growth
Operating Asset Management
48 new contracts with an ACV of ₹44 cr, driven by Industrial, Healthcare, IT/ITeS sectors
QoQ Revenue growth driven by IFMS 5%, Telecom Infra 17% and Industrials O&M 11%
Sequential improvement in EBITDA margins led by growth in F&B and Telecom active infra
Product Led Business
11% YoY sales growth in foundit with reduced cash burn
Highest ever jobs on platform at ~900K jobs
About Quess Corp
Established in Bengaluru in 2007, Quess Corp Limited (BSE: 539978, NSE: QUESS) is India’s leading business services provider - that leverages its extensive domain knowledge and future-ready digital platforms to drive client productivity through outsourced solutions.
Quess provides a host of managed outsourcing and technology-enabled services across processes such as sales and marketing, customer care, after-sales service, back office operations, staffing, manufacturing, facilities & security management, HR & F&A operations, IT & mobility services etc. Quess has a team of over 609,000 employees, serving 3000+ clients across India, North America, APAC and the Middle East as on Sep 30th, 2024.
Quess Corp announced a three-way demerger of its diversified businesses, ultimately resulting in three separate listed companies, namely Quess Corp Ltd., Digitide Solutions Ltd., and Bluspring Enterprises Ltd., post demerger.
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