Quess Corp Surpasses ₹5,000 Crore Revenue Milestone in Q1FY25

Quess Corp, one of the leading business services providers in India, announced its Q1FY25 financial results.

The company has achieved a 9% increase in revenues and a 19% rise in EBITDA compared to the previous year. For the first time, Quess has surpassed ₹5,000 crore in quarterly revenue, reaching ₹5,003 crore, and has expanded its workforce to over 5,97,000 employees, marking a robust 14% year-over-year growth in headcount.

The company’s Earnings Per Share (EPS) has shown a substantial improvement, increasing by 116% on a year-over-year basis and by 10% on a quarter-over-quarter basis to ₹6.9 per share. Additionally, Quess reported a Profit After Tax (PAT) of ₹112 crore, representing a remarkable 132% year-over-year increase and a 14% rise from the previous quarter.

Despite a 6% decline in EBITDA on a quarter-over-quarter basis, the quarterly EBITDA stood at ₹184 crore, up by 19% from the previous year.

Commenting on the results, ED and Group CEO, Mr Guruprasad Srinivasan, said, “In the first quarter of the year, we delivered a robust performance. The organisation strengthening and optimisation of operational efficiencies that Quess has undertaken over the last few quarters has shown results, and we expect this trend to continue. Also, the government’s focus on jobs will create a beneficial external environment for Quess, and our demonstrated execution skills should help us leverage the opportunities that are now opening up.”

Q1 FY 2025 Platform Highlights

In Q1FY25, in Workforce Management, the associate headcount grew by 20% year-over-year to 485,000, with 27,000 new additions and 91 new contracts worth ₹514 crore in annual contract value (ACV).

The Global Technology Solutions segment secured 42 new clients with an ACV of ₹83 crore, and saw a 20% year-over-year and 7% quarter-over-quarter revenue growth in its Client Lifecycle Management (CLM) driven by the international mix in Allsec business.

The Operating Asset Management division added 27 new clients with an ACV of ₹69 crore, though its EBITDA margin declined by 64 basis points quarter-over-quarter to 4.8% due to seasonal factors in margin-accretive businesses like F&B and Telecom Infrastructure.

The product-led business, Foundit, significantly reduced its cash burn and achieved a 7% year-over-year growth.

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