Quess Corp Q2 PAT rises 79% to Rs 71 crore

New Delhi: Business services provider Quess Corp has reported 79 per cent year-on-year jump in profit after tax at Rs 70.95 crore for the second quarter ended September 30, riding on operational efficiencies.

The company had reported a profit after tax (PAT) of Rs 39.62 crore in the corresponding period of the previous fiscal.

Total revenue of the company grew 11 per cent to Rs 4,748 crore, from Rs 4,273 crore in the year-ago period, a company statement said.

"This growth is due to focused efforts over the last few quarters in developing greater automation in our platforms, building operational efficiencies and focusing on high margin businesses," Group CEO Guruprasad Srinivasan said.

Srinivasan further said the higher margin platforms, GTS and OAM have delivered a consistent increase in profitability along with improvement in margins over the last few quarters.

The listed subsidiary, AllSec has surpassed a market cap of Rs 1,000 crore with a CAGR (compound annual growth rate) of 23 per cent from the initial investment in 2019, Srinivasan said.

"We remain bullish about future growth prospects and our consolidation efforts have started to yield positive results to help us realize non-linear profit growth from our all-weather business model," he added.

For the first half of this financial year, the company reported a PAT of Rs 119 crore, up 10 per cent over the same period a year ago. Revenue increased 13 per cent to Rs 9,349 crore in the April-September period of this year, the statement said.

Shares of Quess Corp were trading at Rs 439.25 apiece, up 2.82 per cent over the previous close on BSE.