Quess Corp PAT rises 52% yoy during Q1FY23; Stock jumps near 2%

12 Aug 2022 , 09:18 AM

Quess Corp, India’s leading business services provider has announced its Q1 FY23 financial results.

Financial Highlights

• Q1 FY23 revenue up by 33% YoY driven by General Staffing (up 34%), QITS (up 33%), and ConneQt (up 33%)
• EBITDA from operations for Q1 FY23 is up 4% YoY to Rs153 crore.
• YoY PAT is up by 52%
• Q1 FY23 OCF / Operating EBITDA conversion stood at 56%

Commenting on the results, ED & Group CEO Guruprasad Srinivasan said, “We are delighted to report our highest ever headcount addition of 32.6k in a quarter along with a PAT growth of 52% YoY, reaffirming our execution capability. All our large businesses demonstrated exceptional growth, led to consolidated revenues up by 33% YoY and 5% QoQ.”

At around 9:18 AM, Quess Corp was currently trading at Rs594.35 per share up by Rs10.1 or 1.73% from its previous closing of Rs584.25 per share on the BSE.