Quess Corp Q4 revenue rises 11% to Rs 4,910 crore

QUESS CORP Q4 FY24 Results

Quess Corp, on May 9, reported an 11 percent rise in its revenue to Rs 4,910 crore in the March quarter (Q4) for financial year 2023-24 against Rs 4,440 crore in the same quarter last year.

The company's profit after tax went up by 226 percent to Rs 98 crore from Rs 30 crore. This shows a recovery in profits after a quarter when the company recorded a fall in PAT of 24.7 percent to Rs 64 crore from Rs 85 crore as it accounted for a one-off exceptional expense.

Quess Corp recorded 11 percent growth in its headcount to 5,67,000 in Q4 as compared to 5,12,000 in the corresponding quarter of the previous fiscal. The company registered a growth of 28 percent in its EBITDA which stood at Rs 195 crore for the quarter as compared to Rs 152 crore, in Q4 of FY23.

In addition, the company also announced that the board has recommended a final dividend of Rs 6 per share, translating to its highest-ever dividend payout of Rs 10 per share for the financial year. This comes after the company approved an interim dividend of Rs 4 per share for FY24 in the last quarter.

“We are delighted to announce our financial results with highest ever Revenue and EBIDTA for FY24. Our focus on profitable growth and simplification of operations within platforms has resulted in non-linear increase in EBITDA and PAT. GTS and OAM platforms witnessed significant expansion in margin profile during the year led by operating leverage and business efficiencies. WFM platform continues to deliver a robust headcount growth led by Manufacturing and Retail as the vertical focus strategy has started yielding results,” said Guruprasad Srinivasan, Chief Executive Officer, Quess Corp.

He added that the company’s three-way demerger of Quess Corp announced during the quarter is on track. This comes after the recruitment firm announced in February that it will be demerged into three listed entities – Quess Corp Ltd, Digitide Solutions Ltd, and Bluspring Enterprises Ltd.

The new Quess Corp Ltd will handle workforce management, Digitide Solutions Ltd will provide business process management solutions and insurtech, and Bluspring Enterprises Ltd will offer facility management, industrial services and investments.