Quess

Revenue at Quess Corp — the parent company of recruitment marketplace FoundIt — rose by 4% quarter-on-quarter (q-o-q) and 16% year-on-year (y-o-y) to INR46.0 billion ($555 million U.S.) in the three months to June 2023 (Q1 FY23-24), according to a press release from the company.

Revenue at the company’s workforce management segment grew by 17% y-o-y and accounted for 70% of total revenue. Product-led businesses, dominated by FoundIt, posted revenue growth of 8% y-o-y.

Profit after tax (PAT) rose by 60% q-o-q but fell by 28% y-o-y to INR480 million. The annualized decline in PAT was due increased expenses and the muted performance of product-led businesses.

In November last year, Quess Corp rebranded the Monster job sites that it had acquired from Randstad Holding NV in 2018 as FoundIt, with new value propositions and target segments.

“In product-led businesses, our investment continues in people, technology, and marketing activities, with significant improvement in candidate engagement metrics for FoundIt. Overall, despite macroeconomic headwinds, there has been quarterly improvement in revenue and operating profit, confirming our all-weather business model,” said Guruprasad Srinivasan, executive director and group CEO of Quess Corp.

Founded in 2007, Quess Corp operates in nine countries. According to the company, it has more than 525,000 employees and in excess of 3,000 clients.

Print Friendly, PDF & Email

Related Articles