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View All NewsIndia – Quess Corp fourth quarter revenue growth driven by General Staffing business
Quess Corp. (QUESS:NSI), a Bengaluru, India-based staffing provider, reported revenue yesterday after the markets closed of INR 37.92 billion (USD 488.3 million) for the fourth quarter ended 31 March 2022, up 26.1% when compared to the same period last year.
Revenue growth was driven by the General Staffing business.
| (INR millions) | Q4 2022 | Q4 2021 | % change | Q4 2022 (USD millions) |
| Revenue | 37,920 | 30,050 | 26.1% | 488.3 |
| EBITDA | 1,850 | 380 | 386.8% | 23.8 |
| Profit after Tax | 770 | -580.0 | - | 9.9 |
Profit before tax stood at INR 1.04 billion (USD 13.4 million), a return to growth after a loss before tax of INR 310 million (USD 3.9 million) the year prior.
Executive Director & Group CEO Guruprasad Srinivasan said, “We are delighted to report our highest ever Revenue, EBITDA & profit before tax, reaffirming our execution capability. All our large businesses have continued to demonstrate exceptional growth, driving our consolidated revenues up by 26% and 3% quarter-on-quarter. Our continued focus on cross-sell is yielding results as businesses and employees leverage our vast service portfolio to offer innovative solutions to our clients.”
Quess Corp operates in three segments: Workforce Management Platform, Operating Asset Management Platform, and Global Technology Solutions (previously known as Tech Services).
| (INR millions) | Q4 2022 | Q4 2020 | % change | Q4 2022 (USD millions) |
| Workforce Management Platform | 25,700 | 20,114 | 27.7% | 331.0 |
| Operating Asset Management Platform | 5,772 | 4,650 | 24.1% | 74.3 |
| Global Technology Solutions | 6,447 | 5,280 | 22.1% | 83.0 |
Within the Workforce Management Platform segment, General Staffing headcount crossed 285,000. This drove General Staffing revenue up 25% over the year and 7% over the quarter with Retail and Telecom segments being key drivers. IT Staffing domestic headcount was up by 10% over the year with EBITDA up by 33%.
Within Operating Asset Management, IFM (Facility Management Services) revenue was up 27% over the year with 20 new client wins in the quarter. Terrier Security revenue was up by 21% over the year with 18 new customers added in the quarter.
Within Global Technology Solutions, CLM (contract lifecycle management) revenue was up 30% over the year.
In the group’s Emerging Business, the Monster.com India’s active user base more than doubled in the year to 14.6 million.
Shares in Quess Corp last traded at INR 675.25 (USD 8.70), up 3.26% on the day and 28.03% above the 52-week low of INR 527.40 (USD 6.79) set on 8 March 2022. The company has a market cap of INR 96.78 billion (USD 1.24 billion).