Quess Corp profit drops 36% to Rs 36 crore in Q1

BENGALURU: Quess Corp reported a 36% decline in net profit to Rs 36 crore during the first quarter.

The business services provider saw a flat revenue at Rs 2,409 crore, primarily on account of Covid-19 impact on general staffing, and other segments.

On a sequential basis, the company's revenue dropped 20%.

The company's net profit during the quarter to June includes a Rs 14 crore one-off fair value gain on Terrier consolidation.

Quess Corp added around 200 new customers added through the quarter, in existing and new service lines.

“While this quarter was heavily impacted by Covid-19, our continued focus on customers, cost, and cash are showing early results in our operating metrics. We believe that Quess will disproportionately benefit from our integrated business platform, industry-leading sales capability, digital execution, and superior balance sheet. We continue to execute towards our OCF growth and ROE goals, and are optimistic about the future," said Suraj Moraje, CEO & ED, Quess Corp.