Quess Corp Q1 profit falls 29% to Rs 48 crore

New Delhi: Leading business services provider Quess Corp has reported a 29.41 per cent decline in profit after tax at Rs 48 crore for the June quarter.

The company's profit after tax stood at Rs 68 crore in the corresponding quarter of the previous financial year, a company release said.

It reported a revenue of Rs 4,600 crore in the first quarter of the current fiscal compared to Rs 3,979 crore in the same period of the previous financial year.

"We are pleased to report revenues of Rs 4,600 crore, up 16 per cent year-on-year backed by 15,000+ headcount, totaling up to an overall headcount of 5.25 lakh," Quess Corp Executive Director & Group Chief Executive Officer Guruprasad Srinivasan said.

"Around 35 per cent of the associates who joined us in Q1 entered the formal workforce for the first time. We acquired 183 new customers, setting us up for growth over the next few quarters," Srinivasan said.

Further, he said in product-led businesses, investment continues in people, technology and marketing activities with significant improvement in candidate engagement metrics for its subsidiary foundit.

"Overall, despite macroeconomic headwinds, there has been quarterly improvement in revenue and operating profit confirming our all-weather business model," Srinivasan said.

Quess provides a host of technology-enabled staffing and managed outsourcing services across processes such as sales and marketing, customer care, after-sales service, and back office operations.

The company had about 5.25 lakh employees, serving 3,000-plus clients across India, North America, APAC and the Middle East as on June 30.