Quess Corp Q2 Results | Net profit rises 32% to ₹94 crore, revenue up 9% to ₹5,179 crore
In the corresponding quarter of the previous fiscal, Quess Corp posted a net profit of ₹71 crore, the company said in a regulatory filing. The company’s revenue from operations was up 9.1% to ₹5,179.3 crore as against ₹4,748.3 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA rises 16.2% to ₹195.5 crore in the second quarter of this fiscal over ₹168.3 crore in the corresponding period in the previous fiscal.
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EBITDA margin stood at 3.8% in the reporting quarter as compared to 3.5% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Quess Corp has reported a cash position increase in Q2 FY25, with net cash reaching ₹334 crore, an increase of ₹102 crore from March 2024. The company also achieved a strong operational performance, as indicated by the operating cash flow to EBITDA ratio at 86% for H1 FY25. Gross debt was reduced by ₹117 crore during the same period, bringing it to ₹253 crore.
In Workforce Management, Quess Corp’s headcount expanded to 498,000, adding 15,000 new employees primarily across BFSI, Logistics, M&I, Retail, and Telecom sectors. The segment secured 128 new contracts, with an annual contract value (ACV) of ₹101 crore. IT staffing also maintained steady performance, with Global Capability Centers (GCCs) contributing 68% to revenue.
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The Global Technology Solutions division reported 53 new contracts with an ACV exceeding ₹117 crore, driven by the BFSI and e-commerce sectors. Customer Lifecycle Management (CLM) revenue increased by 18% year-over-year and 4% quarter-over-quarter, attributed to growth in both international and domestic markets. The Employee Experience Management (EXM) service processed 4.3 million payslips, marking a 6% quarter-over-quarter and 13% year-over-year growth.
Operating Asset Management recorded 48 new contracts with an ACV of ₹44 crore, particularly from the Industrial, Healthcare, and IT/ITeS sectors. Quarterly revenue growth was led by a 5% increase in Integrated Facility Management Services (IFMS), 17% in Telecom Infrastructure, and 11% in Industrial Operations & Maintenance (O&M).
The segment also saw EBITDA margin improvements fueled by higher contributions from Food & Beverage and active telecom infrastructure services. Additionally, Quess Corp’s digital talent platform, foundit, reported 11% YoY sales growth alongside a reduction in cash burn. The platform recorded its highest-ever job listings, with around 900,000 positions available, reflecting robust demand in the digital recruitment space.
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The results came after the close of the market hours. Shares of Quess Corp Ltd ended at ₹697.45, up by ₹10.05, or 1.46% on the BSE.
