Quess Corp Q1 FY22 PAT climbs 22% to Rs 45 cr

On a consolidated basis, Quess Corp's net profit soared 22.4% to Rs 44.63 crore on a 24% jump in net sales to Rs 2,986.91 crore in Q1 June 2021 (Q1 FY22) over Q1 June 2020 (Q1 FY21).

Increase in revenues were mainly driven by General Staffing (26%), Conneqt (36%) and Industrials (32%). Consolidated profit before tax surged 47.8% to Rs 80.20 crore in Q1 FY22 as against Rs 54.26 crore in Q1 FY21. The announcement was made after market hours yesterday, 5 August 2021.

Consolidated EBITDA grew 13% to Rs 147 crore in Q1 FY22 as against Rs 130 crore in Q1 FY21. EBITDA margin improved to 4.92% during the quarter as compared to 1.26% during Q1 June 2020. Profit margin stood at 1.49% in Q1 June 2021 over (1.94)% in Q1 June 2020.

Commenting on the Q1 results, Suraj Moraje, the managing director (MD) and group chief executive officer (CEO) of Quess Corp, has said that: "Our revenue has increased 24% Y-o-Y and stayed flat Q-o-Q, 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%."

Quess Corp is India's leading business services provider. It provides a host of technology enabled staffing and managed outsourcing services across processes such as sales & marketing, customer care, after sales service, back office operations, manufacturing, facilities and security management, HR & F&A operations, IT & mobility services etc.

Shares of Quess Corp slipped 1.04% to Rs 843.10 on BSE. The stock traded in the range of Rs 823.55 to Rs 856 so far.

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