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Quess Corp Achieves 132% YoY Increase in Q1FY25 PAT to ₹112 Cr

Q1, historically, is a seasonally weak quarter for the company. Despite that, the company has grown revenues by 9% and EBITDA by 19% on a YoY basis.

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SMEStreet Edit Desk
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Guruprasad Srinivasan, ED & CEO, Quess Corp Ltd
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Quess Corp, India’s leading business services provider, announced its Q1FY25 financial results today.

Q1FY25 Highlights         

  • Robust headcount growth of 14% YoY, now at 597,000+ employees
  • Revenue at ₹5,003 cr, up by 9% YoY and 2% QoQ
  • Quarterly EBITDA at ₹184 cr, up by 19% YoY and down 6% QoQ
  • PAT at ₹112 cr, up by 132% YoY and 14% on a QoQ basis

Particulars (in ₹ Cr.)

Quarter Ended

Q1FY25

Q1FY24

YoY

Q4FY24

QoQ

Headcount

597k

526k

14%

567k

5%

Revenue

5,003

4,600 

9%

4,910

2%

EBITDA

184

 154

19%

195

(6)%

EBITDA %

3.7%

 3.3%

33 bps

4.0%

(30) bps

PBT

119

 62

91%

95

25%

PBT %

2.4%

1.4% 

102 bps

1.9%

44 bps

PAT

112

 48

132%

98

14%

PAT %

2.2%

1.0% 

118 bps

2.0%

24 bps

Diluted Earnings per share

6.9

 3.2

116%

6.3

10%

 

Q1, historically, is a seasonally weak quarter for the company. Despite that, the company has grown revenues by 9% and EBITDA by 19% on a YoY basis. For the first time, Quess has crossed the milestone of ₹5,000 cr in quarterly revenue and a headcount of over 597,000. The EPS has also grown significantly by 116% on a YoY basis and 10% on a QoQ basis to ₹6.9 per share.

Commenting on the results, ED & Group CEO Mr. Guruprasad Srinivasan said: “In the first quarter of the year, we delivered a robust performance. The organization strengthening and optimization of operational efficiencies that Quess has undertaken over the last few quarters has shown results, and we expect this trend to continue.  Also, the government's focus on jobs will create a beneficial external environment for Quess and our demonstrated execution skills should help us leverage the opportunity that is now opening up.” 


Particulars (in ₹ Cr.)

Quarter Ended

Q1 FY25

Q1 FY24

YoY

Q4 FY24

QoQ

Workforce Management

Revenue

3,622

3,221

12%

3,476

4%

EBITDA

89

83

6%

91

(3)%

EBITDA %

2.4%

2.6%

(14)bps

2.6%

  (18) bps

Global Technology Services

Revenue

610

563

8%

604

1%

EBITDA

107

100

7%

113

(6)%

EBITDA %

17.5%

17.8%

(25)bps

18.8%

(122)bps

Operating Asset Management

Revenue

733

690

6%

710

3%

EBITDA

35

31

14%

39

(9)%

EBITDA %

4.8%

4.5%

33 bps

5.4%

(64)bps
  • Product Led Business (ex-Qdigi)

Revenue

39

36

6%

38

1%

EBITDA

(8)

(26)

68%

(5)

(83)%

EBITDA %

(21.8)%

(71.6)%

 

(12.0)%

 

Q1FY25 Platform highlights

Workforce Management:

  • Associate headcount for the vertical is 485k, with an addition of 27k during the quarter, a 20% YoY growth
  • 91 new contracts were added with an ACV of ₹514 cr

Global Technology Solutions:

  • 42 new logos were added with an ACV of ₹83 cr
  • CLM revenue growth of 20% YoY and 7% QoQ driven by the prominence of international mix in Allsec business

Operating Asset Management:

  • 27 new logos added with an ACV of ₹69 cr
  • EBITDA margin at 4.8% down 64 bps QoQ due to seasonality in margin accretive business such as F&B and Telecom Infra

Product Led Business:

  • Foundit business has significantly reduced its cash burn and registered a growth of 7% YoY
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