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The parent company of recruitment marketplace Monster India, Quess Corp, has posted $501 million U.S. in revenue for Q1, FY22-23.

Quess Corp is predominantly a payroll-services company with subsidiaries including Monster job sites in India, Singapore, Malaysia, and Hong Kong — verticals acquired in 2018 from Monster Worldwide Inc. owned by Randstad Holding NV. Quess Corp has consolidated the performances of all of its Monster job sites under the product-led businesses category.

The category also includes QJobs, a blue-collar job site in India, among other workforce-management platforms. According to the company’s financials, the standalone revenue of the category for Q1, FY22-23 is $14.7 million U.S., up by 109% year over year. However, increased cash burn in the product-led businesses led to a 200% year-over-year drop in EBITDA.

Thanks to a 31% year-over-year increase in headcount in the workforce management category, Quess Corp managed a profit after tax (PAT) of $8.6 million U.S., up by 52% year over year. The consolidated traffic of Monster job sites increased by 24% quarter on quarter to 35 million.

“As we get into the festive season, usually the largest hiring season in India, we continue to invest in technology and have strengthened our business teams to take advantage of this opportunity. We are confident these investments will help gain market share and take our ROE to 20%,” said the executive director & group CEO of Quess Corp, Guruprasad Srinivasan.

Headquartered in Hyderabad, Monster India started its operations in 2001 under the ownership of Monster Worldwide Inc. The company has since scaled its operations pan-India. Following its acquisition by Quess Corp in 2018, the company launched an exclusive recruitment drive for women, LGBTQ and PwD communities, and later raised $18 million U.S. from multiple investors.

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