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India – Quess Corp. revenue up 21% in Q3; general staffing revenue rises 24%

06 February 2023

Quess Corp. Ltd. (QUESS:NSI), the Bangalore, India-based provider of staffing and managed outsourcing services, reported revenue from operations rose 21% year over year in its fiscal third quarter ended 31 December. Total revenue from operations was INR 44.66 billion (USD 539.4 million).

General staffing revenue at Quess rose 24% year over year in the third quarter while IT staffing revenue rose 8% sequentially.

Quess’ staffing operations are reported in its “workforce management” segment, including Quess Singapore, whose revenue was up 8% sequentially.

In Quess’ “global technology solutions” segment — which includes business process outsourcing, payroll and IT services — third-quarter revenue was up 20% year over year.

Revenue in Quess’ “product-led segment” rose 51% year over year. The segment includes the Foundit website (formerly Monster India), Qjobs, Qdigi and the Dash employee benefits platform.

Quess’ “operating asset management” segment, which includes its facilities management business, reported revenue was up 19%.

Share price and market cap

Shares in Quess closed down 0.72% to INR 366.60 (USD 4.47) in India on Friday; they were 4.33% above their 52-week low set 31 January, according to FT.com. The company had a market cap of INR 54.72 billion (USD 667.9 million).