with market valuation of 7,300.03 crores, Quess Corp Ltd. is a medium sized company engaged in the commercial services industry. Quess Corp Ltd. (Quess) is a leading Business Service Provider in India in areas such as Sales & Marketing, Customer Service, After Sales Support, Back Office Operations, Manufacturing Operations, Facilities & Security Management, HR & F&A Operations, IT & Mobility provides services. Services, etc. With over 64 locations spread across India, Southeast Asia, North America and the Middle East, the organization has a significant global reach in over 10 countries. For the financial year 2022-2023, the corporation has declared an interim dividend of Rs. 8 per share.
The company, in a stock exchange filing, said that its board of directors has declared “interim dividend of Rs. 8/- per equity share of face value of Rs. 10/- for each financial year 2022-23. of interim dividend. The payment shall be made to the equity shareholders of the company on or before November 29, 2022, whose names appear in the register of members of the company or in the records of the depositories as beneficial owners of the shares on Friday, November 18, 2022, who Record date fixed for the purpose.”
The company reported revenue from the operations of 4,273 cr as compared to Q2FY23 3,228 crore in Q2FY22 and 3,979 crore were posted in Q1FY23, representing a YoY growth of 32% and QoQ growth of 7%. The company declared EBITDA of 135 cr as compared to Q2FY23 112 crore in Q2FY22 and 153 crore in Q1FY23, representing a YoY growth of 20% but a decline of 12% in QoQ. EBITDA margin reached 3.16% in Q2FY23, as against 3.48% in Q2FY22 and 3.85% in Q1FY23. Company reported profit before tax (PBT) 50 crore in Q2FY23 as compared to 51 crore in Q2FY22 and 79 crore in Q1FY23, representing a YoY decline of -3% and QoQ decline of -37%. Ques Corp declared net profit of 40 crores in Q2FY23 as compared to 41 crore in Q2FY22 and 68 crore in Q1FY23, representing a YoY decline of -4% and a QoQ decline of -41%.
Commenting on the results, Mr Guruprasad Srinivasan, ED & Group CEO, said, “We are pleased to announce that we have crossed the 500k headcount milestone driven by the highest ever 33.7k headcount in the quarter . All of our large businesses continue to demonstrate high growth, with our consolidated revenue growing 32% year over year and up 7% on a QoQ basis. However, sluggish recruitment in the IT sector has impacted our high-margin businesses of IT staffing and selection. We have taken initial steps towards building our staffing presence in the USA. While this investment may have some margin impact in the short term, we strongly believe that this investment will open new growth avenues and improve the margin profile of the business. Buoyed by the increase in record numbers, we are now focused on improving our margins.”
Ques Corp shares hit new 52-week low in today’s trading 488.55 each, and then closed on 492.50 each, down 9.96% from the previous close. In trading today the stock recorded a total volume of 577,366 shares compared to the 20-day average volume of 89,255 shares. On a YTD basis, the stock has fallen 42.67% so far in 2022. The stock had made a new 52-week high. At 967.80 (17-Nov-2021), it shows that the stock is trading down 49.11% from the 1-year high at the current market price. For the quarter ended September or Q2FY23, the company reported promoter shareholding of 51.81%, FII of 21.93%, DII holding of 9.36% and public shareholding of 16.91%.
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