Quess Corp

IT hiring nearly flat for 6-7 quarters; no Q2 recovery seen: Quess Corp

Hiring in the IT services sector has remained stagnant over the past six to seven quarters, with no active demand likely to pick up in the second quarter either, a top official from staffing firm Quess Corp has said. Quess Corp ED and CEO Guruprasad Srinivasan told PTI that demand for technology talents is coming from global capability centres and non-IT companies. "At least for the last six to seven quarters. And we are also not seeing very active demand coming in, even in Q2 as well. So, IT services being a bit muted or dehiring happening, there has been no impact on Quess," he said. He added that 73 per cent of staffing demand for the company comes from non-IT and GCCs, where demand for the technology talent pool is high. "Skills for AI, cloud, and cybersecurity kind of profile are high in demand. On average, the wage in itself is about Rs 1.25 lakhs. It's a high margin for us. When it comes to margin, it's about 15 to 18 per cent," Srinivasan noted. Quess Corp has posted a 4 p

Digitide Solutions share price tanks 7%, hits 52-week low on weak Q4 show

Digitide Solutions share price was under pressure today after the company posted a weak set of results in the March quarter of FY25 (Q4FY25).

Quess Corp throws its hat in GCC business to tap $105 bn market by 2030

The new business line, named Origint, will provide end-to-end services to help GCCs set up, scale, and operate high-performance centres across India and key international markets

Quess Corp shares jump 7% as board fixes record date for three-way demerger

The shareholders of the demerged company will be entitled to receive fully paid-up equity shares of ₹10 each of Digitide Solutions Limited and Bluspring Enterprises Limited

Quess Corp share price gains 6% on NCLT's approval for three-way demerger

Shareholders will receive one equity share in each resulting company for every share held in Quess Corp, with the demerger expected to enhance operational efficiency, unlock shareholder value

Amazon sells Quess Corp shares for Rs 46 cr, Fairfax Capital hikes stake

Global e-commerce giant Amazon on Saturday sold shares of business services provider Quess Corp for Rs 46 crore through an open market transaction, while promoter billionaire Prem Watsa promoted Fairfax Capital increased its holding in the company. US-based Amazon, through its investment arm Amazon.com NV Investment Holdings, offloaded 7.54 lakh shares or 0.50 per cent stake in Bengaluru-based Quess Corp, as per the bulk deal data available on the BSE. The shares were disposed of at an average price of Rs 610.20 apiece, taking the transaction value to Rs 46.03 crore. Meanwhile, Fairfax Financial Holdings' affiliate Fairbridge Capital (Mauritius) and Ajit Isaac (Chairman of Quess Corp), the two promoters of Quess Corp, increased their holdings, by picking up an additional 3.77 lakh shares of the company each. "Pursuant to Sebi (Listing Obligations and Disclosure Requirements) regulations, 2015, we would like to inform that Fairbridge Capital (Mauritius) Ltd has purchased 3,77,218 ..

AI, cybersecurity to drive 1 mn jobs by 2030: Quess IT Staffing report

Strategic investments in upskilling will remain pivotal as the workforce adapts to increasing demand for AI, cybersecurity, and cloud computing

Quess Corp zooms 9%; Antique initiates coverage on stock with 'Buy' call

With rapid urbanisation in India and rampant growth of Global Capability Centers (GCCs) in the country, Quess is expected to experience strong momentum in the BFSI, manufacturing, and telecom sectors

Quess Corp Ajit Isaac seals record real estate deal at Rs 67.5 cr

The property is located in the southern suburb of Koramangala in Bengaluru, popularly known as billionaire street. Flipkart co-founder Sachin Bansal is among its residents

Quess Corp surges 16%; hits 52-week high on three-way demerger plan

Quess Corp announced that its board of director plans to undertake a three way demerger of its diversified business segments, resulting in three listed entities with dedicated presence.

Business services provider Quess Corp Q2 PAT rises 79% to Rs 71 cr

Business services provider Quess Corp has reported 79 per cent year-on-year jump in profit after tax at Rs 70.95 crore for the second quarter ended September 30, riding on operational efficiencies. The company had reported a profit after tax (PAT) of Rs 39.62 crore in the corresponding period of the previous fiscal. Total revenue of the company grew 11 per cent to Rs 4,748 crore, from Rs 4,273 crore in the year-ago period, a company statement said. "This growth is due to focused efforts over the last few quarters in developing greater automation in our platforms, building operational efficiencies and focusing on high margin businesses," Group CEO Guruprasad Srinivasan said. Srinivasan further said the higher margin platforms, GTS and OAM have delivered a consistent increase in profitability along with improvement in margins over the last few quarters. The listed subsidiary, AllSec has surpassed a market cap of Rs 1,000 crore with a CAGR (compound annual growth rate) of 23 per cent

Five tech skills make up 78% of hiring demands across industries: Report

A Quess report finds upward hiring trends in India's IT hubs as well as Tier I & II cities as remote work options become available in Q1FY24

Biz services provider Quess Corp profit falls 29% to Rs 48 crore in Q1

Leading business services provider Quess Corp has reported a 29.41 per cent decline in profit after tax at Rs 48 crore for the June quarter. The company's profit after tax stood at Rs 68 crore in the corresponding quarter of the previous financial year, a company release said. It reported a revenue of Rs 4,600 crore in the first quarter of the current fiscal compared to Rs 3,979 crore in the same period of the previous financial year. "We are pleased to report revenues of Rs 4,600 crore, up 16 per cent year-on-year backed by 15,000+ headcount, totaling up to an overall headcount of 5.25 lakh," Quess Corp Executive Director & Group Chief Executive Officer Guruprasad Srinivasan said. "Around 35 per cent of the associates who joined us in Q1 entered the formal workforce for the first time. We acquired 183 new customers, setting us up for growth over the next few quarters," Srinivasan said. Further, he said in product-led businesses, investment continues in people, technology and ...

80% informal employees expect ESI security, medical benefits: Report

Informal sectors employees prioritise factors such as prestige, career potential and security over wages today, adding that technology has helped raise awareness of formal employment benefits

Professional services industry hired maximum people between January and May

It was followed by BFSI and e-commerce industries with 16% rise in their headcounts

Vacancies for blue-collar jobs in India rose in FY23, but job seekers down

The fall in job demand was noted in delivery and driver, BPO and customer care, and data entry roles

Women in informal economy have greater career aspiration than men: Study

They wanted health benefits and formal job agreement over money in their jobs

Blue and grey-collar job demand in India up four-fold in 2022: Report

60 per cent of all the grey and blue-collar hires were "freshers" with a prior work experience of 0 to 3 years: Billion Careers

Aparajitha eyes new deals after 76% stake buy in Quess Corp arm Simpliance

The firm aims to become the top player in India' compliance segment; currently has 1,700 employees and over 1,750 clients across 25 states

Near-term headwinds likely to keep staffing solution companies muted

But valuations have turned attractive after sharp corrections since January