Quess Corp Q3 net up 11.3 pc to Rs 71 cr

Business services provider Quess Corp on Wednesday reported a 11.3 per cent rise in consolidated net profit at Rs 71.31 crore for the December 2019 quarter.

It had posted a net profit (attributable to owners of the company) of Rs 64.04 crore for the corresponding period of the previous fiscal, Quess Corp said in a BSE filing.

Its revenue from operations grew 35.8 per cent at Rs 2,950 crore for the quarter under review from Rs 2,172.15 crore in the year-ago period.

"This quarter saw us continuing to execute our corporate initiatives with significant improvement in business operations and corporate structure," Quess Corp Chairman and Managing Director Ajit Isaac said.

He added that while the company delivered a 36 per cent growth in revenue and 52 per cent rise in EBITDA (earnings before interest, tax, depreciation and amortization), its focus on other key financial parameters in the form of cash generation, debt reduction and interest cost reduction has been robust.

The company saw strong growth in its staffing business, registering headcount addition of 67,000 associates over the last four quarters.

"Our facilities management business continued its strong organic growth momentum during the quarter with revenue up 11 per cent year-on-year to Rs 347 crore...Our tech services business reported a strong revenue growth up 19 per cent year-on-year to Rs 544 crore from Rs 456 crore owing to 13 per cent increase in Conneqt and the Allsec acquisition," the filing said.