Declares interim dividend
Mumbai, India. 15th Nov 2021. Quess Corp, India’s leading business services provider announced its financial results for the second quarter FY’22, today.
Financial Highlights
- Revenue up 23% YoY driven by General Staffing (up 27%), ConneQt (up 27%), and Industrials (up 24%)
- EBITDA from operations grew 12% YoY to ₹ 157cr
- PAT down 17% YoY due to ₹ 35 cr extraordinary non-cash charge
- OCF / Operating EBITDA conversion at 100%
- Net debt position improved to ₹ 68cr in Q2’22 against ₹ 151cr in Q1’22
- Interim dividend of ₹ 4 per share
The key consolidated financial parameters are:
| Particulars ( in ₹ cr) | Q2 FY22 | Q2 FY21 | Q1 FY22 | YoY | QoQ |
| Revenue from operations | 3,228 | 2,615 | 2,987 | 23% | 8% |
| Reported EBITDA | 112 | 140 | 147 | -20% | -24% |
| EBITDA from Operations | 157 | 140 | 147 | 12% | 7% |
| Reported EBITDA margin | 3.48% | 5.34% | 4.92% | -186 bps | -144 bps |
| EBITDA margin from Operations | 4.85% | 5.34% | 4.92% | -49 bps | -6 bps |
| Profit Before Tax | 60 | 82 | 80 | -27% | -25% |
| Profit After Tax | 41 | 50 | 45 | -17% | -8% |
Business highlights
- Workforce Management:
- General Staffing crossed 250k headcount – highest ever in Indian staffing history. Revenue up 27% YoY
- IT Staffing domestic business EBITDA up 43% YoY
- Global Technology Solutions:
- CLMrevenue up25% YoY, record new contract wins. Conneqt business at record high.
- In non-CLM BPO, collections revenue up 24% YoY, F&A revenue up 23% YoY
- Allsec HRO quarterly payslips processed up 31% YoY, crossed 1 million payslips per month
- US Integrated Insurtech up 10% QoQ on the back of strengthened GTM
- Domestic IT Services revenue up 41% YoY
- Operating Asset Management:
- IFM revenue up 13% YoY, 24 client wins in the quarter
- Terrier Security revenue up 8%, 26 new customers in the quarter
- Industrial businessrevenue up 24% YoY
- Emerging Business:
- Monster India sales up 65% YoY, 43% QoQ Increase in 6M Active users
- QJobs crossed 1 million downloads, >900,000 job openings added
Commenting on the results, MD & Group CEO Mr. Suraj Moraje said, “We are enthused by the business’ strong growth, especially in our Workforce Management and Global Technology Solutions platforms. We are also very excited by the performance of our Monster and QJobs businesses. These results are a testament to our strong focus on execution and transformational business improvements over the past quarters. We are optimistic about the business outlook, as we continue to deepen our capabilities in sales, technology-led hiring & delivery, operational efficiencies, and cash generation.”
