Business services provider Quess Corp reported 11 per cent year-on-year jump to ₹4,910 crore in revenues for the quarter ended March, and the profit after tax (PAT) saw a 226 per cent year-on-year increase at ₹98 crore.
The company’s board has recommended a final dividend of ₹6 per share which makes the total dividend payout for the financial year 2023-24 to ₹10 per share.
The company’s EBITDA was recorded at ₹195 crore — up 28 per cent.
“Our focus on profitable growth and simplification of operations within platforms has resulted in non-linear increase in EBITDA and PAT. GTS and OAM platforms witnessed significant expansion in margin profile during the year led by operating leverage and business efficiencies. WFM platform continues to deliver a robust headcount growth led by Manufacturing and Retail as the vertical focus strategy has started yielding results. Our 3-way demerger of Quess Corp announced during the quarter is on track, and we are confident that it will significantly augment the value creation journey going forward,” said ED & Group CEO Guruprasad Srinivasan.
The company logged an earning per share (EPS) of ₹6.31 (184 per cent increase year-on-year) for the March quarter and ₹18.61 (24 per cent jump year-on-year) for FY24.
The company’s three-way demerger of Quess Corp announced during the quarter is on track. This comes after the recruitment firm announced in February that it will be demerged into three listed entities – Quess Corp Ltd, Digitide Solutions Ltd, and Bluspring Enterprises Ltd.
The new Quess Corp Ltd will handle workforce management, Digitide Solutions Ltd will provide business process management solutions and insurtech, and Bluspring Enterprises Ltd will offer facility management, industrial services and investments.