Quess Corp Q3FY23 profit after tax down by 3% YoY to Rs 89cr

Quess Corp Limited has reported a profit after tax (PAT) of INR 86 crores for the third quarter of the fiscal year (Q3FY23), a decrease of 3% compared to INR 89 crores in the same quarter of the previous fiscal year.

The Indian business services provider had a profit of tax of INR 40 crores in Q2FY23.

The Bengaluru-based company, which offers technology-enabled staffing and managed outsourcing services, had earned revenues of INR 4,466 crores, which is a 21% increase compared to INR 3,685 crores. In the preceding quarter, Quess Corp earned INR 4,273 crores in revenues.

According to Quess Corp, its general staffing revenue are up 24% year-over-year (YoY) and its global technology solutions (GTS) registered its highest revenue of INR 561 crores, an increase of 20% YoY.

Guruprasad Srinivasan — Quess Corp ED and Group CEO, commenting on Quess Corp Q3FY23 results, said: “We are pleased to report revenues of ₹ 4,466cr with a QoQ growth of 4%. Our EBITDA grew by 8% QoQ with sales growth, operating efficiencies and SG&A cost reductions being its key drivers.

“GTS posted its highest ever EBITDA of ₹ 90cr in a challenging environment, once again substantiating the strength of all-weather business model.

“We are making good progress with our internal plans of cost reduction and the overall growth of our profitability.”