India 05th August 2021 : Quess Corp, India’s leading business services provider announced its financial results for the first quarter FY’22, today.
Financial Highlights
- Revenue up 24% YoY driven by General Staffing (26%), Conneqt (36%), and Industrials (32%)
- EBITDA up 13% YoY, PAT up 22% YoY
- Robust OCF / Operating EBITDA conversion, at 75% in line with management’s long term target
The key consolidated financial parameters are:
| Particulars ( in ₹ cr) | Q1 FY22 | Q1 FY21 | Q4 FY21 | YoY | QoQ |
| Revenue from operations | 2,987 | 2,409 | 3,005 | 24% | -0.6% |
| EBITDA | 147 | 130 | 38 | 13% | 288% |
| EBITDA margin | 4.92% | 5.38% | 1.26% | -46 bps | 366 bps |
| Profit before tax | 80 | 54 | -31 | 48% | 356% |
| PBT Margin | 2.69% | 2.25% | -1.04% | 44 bps | 373 bps |
| Profit after tax | 45 | 36 | -58 | 22% | 177% |
| PAT margin | 1.49% | 1.51% | -1.94% | -2 bps | 343 bps |
Other highlights
- Workforce Management:
- General Staffing headcount up 15% YoY and 1% QoQ. Revenue up 26% YoY. Core to Associate ratio at historical high of 350
- IT Staffing Domestic EBITDA up 67% YoY. Focus continues to be on ramping up delivery capabilities, leveraging technology assets in sourcing, screening, on-boarding and deploying candidates
- Global Technology Solutions:
- Platform based services: HRO platform payslips processed up 31% YoY to 2.8mn. Integrated Insuretech revenue in the US up 6% QoQ
- CLM: Revenue up 38% YoY and 5% QoQ
- IT Services: Domestic Revenue up 49% YoY and 7% QoQ
- Operating Asset Management:
- IFM: Revenue up 5% YoY. Increased spend on hygiene saw pest & disinfection revenue up 68% YoY.
- Industrial business: Revenue up 32% YoY
- Emerging Business: Monster India showing continued improvement in customer acquisition & retention metrics. Qjobs continues to grow by steadily adding 213K new jobs, up 46% QoQ.
Commenting on the results, MD & Group CEO Mr. Suraj Moraje said, “Our revenue has increased 24% YoY and stayed flat QoQ, despite the second COVID wave during Q1. Our ongoing investments in verticalised capabilities, technology and operating improvements will continue to power our momentum as we stay firmly focused on achieving an ROE of 20%.“
