Quess Corp, a leading business services provider, reported a robust Q3 FY24, marking a 24 per cent year-on-year (YoY) growth in earnings before interest, taxes, depreciation, and amortisation (EBITDA) to Rs 181 crores.
Revenue climbed 8 per cent YoY to Rs 4,842 crores, fuelled by consistent growth in their global technology solutions platform and profitability gains in operating asset management. Adjusted profit after tax (PAT) skyrocketed by 162 per cent YoY, reaching Rs 84 crores, reflecting their improved bottom line. The company further sweetened the deal with an interim dividend of Rs 4 per share for FY24.
Headcount swelled by 11 per cent YoY, reaching 557,000 employees, primarily driven by the workforce management platform. Within their individual platforms, global technology solutions saw a 19 per cent YoY leap in EBITDA, thanks to strong performances in both employee experience management and customer experience management segments.
The workforce management platform added 13,000 employees during the quarter, reaching a total headcount of 444,000. Notably, the manufacturing and BFSI sectors collectively contributed over 45 per cent to the business.
Operating asset management achieved 16 per cent YoY growth in EBITDA, with both their food business and telecom infrastructure experiencing significant improvement.
The workforce management platform contributed 12 per cent YoY revenue growth, primarily driven by expansion in the manufacturing and BFSI sectors. Additionally, the Product Led Business introduced foundit 2.0, a disruptive AI-driven recruitment product, experiencing a sales growth of 9 per cent YoY and 5 per cent quarter-on-quarter (QoQ).
Expressing his satisfaction with the results, Quess Corp’s ED & group CEO, Guruprasad Srinivasan stated, “We are pleased with our robust EBITDA growth and strong performance across all platforms. This reflects our continued focus on operational excellence, profitable growth, and digital transformation.”
Looking ahead, Quess Corp exudes confidence in maintaining its upward trajectory. Their focus lies on achieving profitable growth across all platforms, improving margins, and further consolidating operations.
