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Q2 Revenue up 9% YoY to ₹5,179 crore and PAT up 32% YoY to ₹94 croreH1 Revenue up 9% YoY to ₹10,182 crore and PAT up 72% YoY to ₹205 crore
Headcount crossed 600,000 during the quarter
Mumbai, India, October28th2024: Quess Corp, India’s leading business services providerannounced its Q2 and H1 FY25financial results today.
Q2FY25Highlights
- Revenue at ₹5,179 cr up by 9% YoY and 4% QoQ
- EBITDA at ₹196 cr up by 16% YoY and 4% QoQ with increase in margin by 23 basis points YoY
- PAT at ₹94 cr up by 32% YoY and down 16% QoQ
H1FY25 Highlights
- Revenue of ₹10,182 cr up by 9% YoY
- EBITDA at ₹384 cr up by 17% YoY with increase in margin by 27 basis points YoY
- PAT at ₹205 cr up by 72% YoY
- Net cash at ₹334 cr, increased by ₹102 cr from March’24, H1’25 OCF to EBITDA at 86%
- Gross debt levels at ₹ 253 crore, reduced debt by ₹ 117 crore in H1FY25
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Particulars (in ₹ Cr.) |
Quarter Ended |
Half Yearly |
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Q2 FY25 |
Q2 FY24 |
YoY |
Q1FY25 |
QoQ |
H1 FY25 |
H1 FY24 |
YoY |
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Headcount |
6,09,214 |
5,47,149 |
11% |
5,97,532 |
2% |
6,09,214 |
5,47,149 |
9% |
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Total Revenue |
5,179 |
4,748 |
9% |
5,003 |
4% |
10,182 |
9,349 |
9% |
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Reported EBITDA |
196 |
168 |
16% |
188 |
4% |
384 |
327 |
17% |
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Reported EBITDA% |
3.8% |
3.5% |
23 bps |
3.8% |
1 bps |
3.8% |
3.5% |
27 bps |
|
Profit before Tax |
102 |
79 |
29% |
119 |
(14)% |
221 |
141 |
56% |
|
PBT Margin |
2.0% |
1.7% |
30 bps |
2.4% |
(40 bps) |
2.2% |
1.5% |
65 bps |
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PAT |
94 |
71 |
32% |
112 |
(16)% |
205 |
119 |
72% |
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PAT Margin |
1.8% |
1.5% |
31 bps |
2.2% |
(42) bps |
2.0% |
1.3% |
74 bps |
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Diluted EPS – Rs |
6.1 |
4.8 |
26% |
6.9 |
(12)% |
13.1 |
8.0 |
63% |
Commenting on the results, ED & Group CEO Mr. Guruprasad Srinivasan said, “We are pleased to report a solid quarter with quarterly revenue of ₹ 5,179 crore and EBITDA margin uptick of 23 bps YoY, underpinned on broad-based performance across our platforms. During the quarter, Quess became a 6,00,000+ headcount strong organization. WFM delivered healthy topline growth with headcount additions in Retail and Logistics verticals, and increasing salience of GCCs supported IT staffing. Improving international contribution in GTS and growth in F&B and telecom business in OAM contributed to higher realizations.
Our committed approach of financial and operational prudence has resulted in increased business efficiencies. We have also been strategically investing to strengthen platform-wise capabilities to ensure they are optimally positioned for future opportunities. We are progressing on-track towards our proposed demerger and are confident of long-term value creation for our stakeholders.”
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Particulars (in ₹ Cr.) |
Quarter Ended |
Half Yearly |
||||||
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|
Q2FY25 |
Q2FY24 |
YoY |
Q1FY25 |
QoQ |
H1FY25 |
H1FY24 |
YoY |
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Workforce Management |
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Revenue |
3,747 |
3,315 |
13% |
3,622 |
3% |
7,369 |
6,536 |
13% |
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Reported EBITDA |
92 |
87 |
5% |
89 |
4% |
180 |
170 |
6% |
|
Reported EBITDA % |
2.4% |
2.6% |
(18)bps |
2.4% |
0bps |
2.4% |
2.6% |
(16)bps |
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Global Technology Services |
||||||||
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Revenue |
625 |
584 |
7% |
610 |
2% |
1,235 |
1,148 |
8% |
|
Reported EBITDA |
109 |
104 |
5% |
107 |
2% |
216 |
204 |
6% |
|
Reported EBITDA % |
17.5% |
17.8% |
(32)bps |
17.5% |
(4) bps |
17.5% |
17.8% |
(29)bps |
|
Operating Asset Management |
||||||||
|
Revenue |
768 |
705 |
9% |
733 |
5% |
1,501 |
1,395 |
8% |
|
Reported EBITDA |
37 |
35 |
6% |
35 |
6% |
72 |
66 |
10% |
|
Reported EBITDA % |
4.8% |
5.0% |
(14) bps |
4.8% |
4 bps |
4.8% |
4.7% |
9 bps |
|
Product Led Business* |
||||||||
|
Revenue |
39 |
35 |
12% |
39 |
2% |
78 |
72 |
9% |
|
Reported EBITDA |
(8) |
(23) |
67% |
(8) |
10% |
(16) |
(49) |
68% |
|
Reported EBITDA % |
(19.2)% |
(65.8)% |
Nm |
(21.8)% |
nm |
(20.5)% |
(68.8)% |
nm |
*PLB revenue and EBITDA adjusted for Qdigi divestment
Q2FY25Platform highlights
- Workforce Management:
- Headcount reached498k with an addition of 15k led by BFSI, Logistics, M&I, Retail and Telecom
- 128 new contracts with an ACV of ₹101 cr, 74 new contracts added in General Staffing
- IT staffing witnessed steady quarter with GCC contribution at 68% by revenue
- Global Technology Solutions:
- 53 new contracts with ACV of ~₹117+ crled by BFSI and E-commerce
- CLM revenue growth of18% YoY&4% QoQled by growth across international and domestic businesses
- EXMprocessed4.3 mn pay slipsduring Q2 with 6% QoQ growth and 13% YoY growth
- Operating Asset Management:
- 48 new contractswith an ACV of ₹44 cr, driven by Industrial, Healthcare, IT/ITeS sectors
- QoQ Revenue growth driven by IFMS 5%, Telecom Infra 17%and Industrials O&M 11%
- Sequential improvement in EBITDA margins led by growth in F&B and Telecom active infra
- Product Led Business:
- 11% YoY sales growth in founditwith reduced cash burn
- Highest ever jobs on platform at ~900K jobs
Q2 and H1 FY2025 Earnings Conference Call
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Conference Call Details: Tuesday, 29th October at 11:00 AM IST |
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Diamond Pass |
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Universal Access Number |
+91 22 6280 1259 / +91 22 7115 8160 |
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The number listed above is universally accessible from all networks and all countries. |
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Toll Free Number |
USA: 1 866 746 2133 UK: 0 808 101 1573 Singapore: 800 101 2045 Hong Kong: 800 964 448 |
About Quess Corp
Established in Bengaluru in 2007, Quess Corp Limited (BSE: 539978, NSE: QUESS) is India’s leading business services provider - that leverages its extensive domain knowledge and future-ready digital platforms to drive client productivity through outsourced solutions.
Quess provides a host of managed outsourcing and technology-enabled services across processes such as sales and marketing, customer care, after-sales service, back office operations, staffing, manufacturing, facilities & security management, HR & F&A operations, IT & mobility services etc. Quess has a team of over 609,000 employees, serving 3000+clients across India, North America, APAC and the Middle East as on Sep 30th, 2024.
Quess Corp announced a three-way demerger of its diversified businesses,ultimately resulting in three separate listed companies, namely Quess Corp Ltd., Digitide Solutions Ltd., and Bluspring Enterprises Ltd., post demerger.
For further details on Quess Corp Ltd., please visit: http://www.quesscorp.com
For more information, please contact:
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Disclaimer: This document contains statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. These statements can be recognized by the use of words such as ''expects", "plans", 'will", "estimates", "projects", or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and actual results may differ materially from those in such forward-looking statements as a result of various factors and assumptions, which the Company believes to be reasonable in light of its operating experience in recent years. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition, our ability to manage our international operations, government policies, regulations, etc. The Company does not undertake any obligation to revise or update any forward-looking statement that may be made from time to time by or on behalf of the Company including to reflect actual results, changes in assumptions or changes in factors affecting these statements
