Quess Corp's Q3 revenue rises 8% to Rs 4,842 crore, company approves interim dividend

QUESS CORP

Quess Corp, on February 2, reported an 8 percent rise in its revenue to Rs 4,842 crore in the December quarter (Q3) against Rs 4,466 crore in the same quarter last year.

The company's profit after tax, however, went down 24.7 percent to Rs 64 crore from Rs 85 crore as it accounted for a one-off exceptional expense. Its adjusted PAT stood at Rs 84 crore, up by 162 percent over last year, Quess Corp said.

Quess Corp recorded 10.5 percent growth in its headcount to 5,57,000 in Q3 as compared to 5,04,000 in the corresponding quarter of the previous fiscal. The company registered a growth of 24 percent in its EBITDA which stood at Rs 181 crore for the quarter as compared to Rs 145 crore, last quarter.

In addition, the company said that its Board has approved an interim dividend of Rs 4 per share for FY24.

“We are pleased to announce a robust EBITDA growth of 24 percent YoY, helping us reach an EBITDA of 181Crs. This achievement is attributed to the consistent non-linear growth in our 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 foundit,” said Guruprasad Srinivasan, Chief Executive Officer, Quess Corp.

He added that the company has successfully implemented the amalgamation of its fully owned subsidiaries Conneqt Business Solutions Limited, MFX Infotech Private Limited and Greenpiece Landscape India Private Limited, after getting approval from NCLT during the quarter.