Quess Corp Q3 Results Out, Consolidates 4% Revenue Growth & 8% EBITDA Growth

Quess Corp announced its consolidated financial result for the third quarter of financial year 2023 till 31st December 2022 on Saturday. The company reported a revenue growth of 4 per cent and EBITDA growth of 8 per cent on QoQ basis.

In an official statement, the company shared that 4 per cent revenue profits of Rs 4,466 crore were driven by the general staffing of 6 per cent, a flexibility that helped the company to reconcile changing short and long business demands. 

Adding on to this, Quess Singapore ticked an 8 per cent revenue growth and IFMS and Conneqt were up at 6 per cent and 5 per cent respectively.

EBITDA  for Q3 FY23 is up 8 per cent, QoQ to Rs 145cr from Rs 135cr. EBITDA margin has improved by 10bps with reductions in SG&A. 

Commenting on the positive growth, ED & Group CEO Guruprasad Srinivasan expressed happiness stating, "we are pleased to report a revenue growth of 4 per cent following our 8 per cent EBITDA growth in QoQ. We credit this significant revenue profit to our sales growth, operating efficiencies and SG&A cost reductions."

He further added that the GST stroke the highest position ever, EBITDA of Rs 90 crore a substantiating strength of all-weather business model amidst the challenging environment. 

Meanwhile, according to the company, on YOY basis EBITDA for Q3 has dropped by 19 per cent from Rs 179 crore to Rs 145 crore, due to an additional spend of Rs 30 crore in Q3 FY23 in Monster/foundit. But the GTS still manages to achieve its highest ever EBITDA. 

Other highlights included QoQ PAT up by 116 per cent from Rs 40 crore to Rs 86 crore and EPS ups at 110 per cent on a QOQ and 6 per cent on a YOY basis.