Business services provider Quess Corp has reported a remarkable 79 percent year-on-year increase in profit after tax (PAT), reaching Rs 70.95 crore for the second quarter ended September 30. This surge in profitability is attributed to the company’s focus on operational efficiencies and high-margin businesses.
During the corresponding period of the previous fiscal, Quess Corp had reported a PAT of Rs 39.62 crore. The company’s total revenue grew by 11 percent, reaching Rs 4,748 crore, compared to Rs 4,273 crore in the year-ago period, according to a company statement.
Quess Corp’s strategic efforts in enhancing automation in its platforms, building operational efficiencies, and concentrating on high-margin businesses have led to this growth. The higher margin platforms, GTS and OAM, have consistently increased profitability and improved margins over the past few quarters, as highlighted by Group CEO Guruprasad Srinivasan.
The company’s listed subsidiary, AllSec, has achieved a market capitalization of over Rs 1,000 crore, showcasing a remarkable compound annual growth rate (CAGR) of 23 percent since the initial investment in 2019.
Quess Corp remains optimistic about future growth prospects, with its consolidation efforts yielding positive results and contributing to non-linear profit growth from its resilient business model. In the first half of this financial year, the company reported a PAT of Rs 119 crore, indicating a 10 percent increase over the same period last year. The revenue for the April-September period of this year increased by 13 percent, reaching Rs 9,349 crore, as stated in the company’s official release. At the time of reporting, Quess Corp shares were trading 2.48 percent higher at ₹437.60.
