Quess Corp Receives Income Tax Refund for FY24

Quess Corp Ltd is a prominent Indian provider of business services, delivering a wide array of workforce management, technological solutions, and operational services to clients in various industries. With its headquarters situated in Bengaluru, Quess is involved in sectors such as staffing, IT services, facility management, and industrial solutions.

Received an Income Tax Refund

On Friday, January 3, the business services provider Quess Corp Ltd announced that it had received an income tax refund, inclusive of interest, totalling ₹124.80 crore for the financial year 2023-24. This refund also encompasses the interest accrued on the outstanding amount.

“…we would like to inform you that the company has received today the Income Tax Refund, including interest, amounting to ₹124.80 crores for the Financial Year 2023-24,” Quess Corp stated in a regulatory filing.

Quess Corp Q2 FY25 Results

Quess Corp recorded a 6% increase in net profit year-on-year (YoY), amounting to ₹32 crore for Q2 FY25. During the same quarter of the previous fiscal year, the company reported a net profit of ₹71 crore, according to a regulatory filing. The company’s operational revenue saw an increase of 9.1%, reaching ₹5,179.3 crore compared to ₹4,748.3 crore during the same period last fiscal year. 

At the operational level, EBITDA grew by 16.2% to ₹195.5 crore in the second quarter of this fiscal year, up from ₹168.3 crore in the corresponding quarter of the previous fiscal year. The EBITDA margin for the reported quarter was 3.8%, in contrast to 3.5% during the same period last year. 

Share Price Performance 

Quess Corp Ltd’s share price traded at ₹669.80 on NSE at 12:03 PM.

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