Quess Corp, India’s leading business services provider announced its financial results for Q2FY20. Revenue rose 26.7% to Rs2,650.3cr. Net profit fell 2% to Rs60.6cr. EBITDA rose 44.1% to Rs161.4cr. Margin stood at 6.1% vs. 5.4%.
Quess Corp also informed about the appointment of Mr Krishna Suraj Moraje as Executive Director of the company w.e.f. October 30, 2019.
Revenues grew 27% (organic growth of 23%) yoy on the back of highest ever increase in employee headcount of 97k, over the last four quarters.
Quarterly EBITDA grew significantly by 44% yoy to Rs161cr. EBITDA margins for H1FY20 improved by 84bps yoy to 6.12%.
PAT of Rs65cr during the quarter was higher by 5% yoy. Without the IndAS adjustments, the Operating
PAT was Rs70cr, which was a 13% increase yoy.
Cash flow from Operations (OCF) stood at Rs117cr for H1FY20 as against Rs72cr in H1FY19, a significant increase of 62% yoy.
OCF/EBITDA conversion improved to 47% during H1FY20 vs. 34% in H1FY19.
Significant debt reduction of Rs375cr achieved during the quarter. Gross Debt at the end of the quarter
stood at Rs920cr; Net Debt stood at Rs272cr.
Quess Corp Ltd ended at Rs473.20 up by Rs4.55 or 0.97% from its previous closing of Rs468.65 on the BSE.
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