Its global technology solutions segment includes business process management solutions for Indian and North American customers; payroll and HR-related services to enterprises mainly in India; insurance technology platform, infra and IT services in North America and India; and emerging businesses such as Monster.com job portals and Digicare installation, as well as after-sales services.
“Our global technology solutions business is our largest Ebitda (operating margin) contributor now and clearly it has seen a robust recovery. BPO business is back to pre-Covid-19 levels; while IT consulting and staffing in North America is doing well,” said Suraj Moraje, group CEO of Quess.
The Covid-19 pandemic and resultant nationwide lockdown last year had a negative impact on the staffing services provider, dragging down business during the quarter to December.
The company reported a 39% decline in net profit to Rs 46 crore during the period, while revenue dropped nearly 5% to Rs 2,808 crore on a negative impact of Rs 29 crore from Excelus and IFM (integrated facilities management) food businesses.
Moraje said the facilities management and security businesses remains impacted as there is lack of clarity about their recovery.
“They (clients) are still not sure as to what would be the pace of recovery and it is unclear how the food business is going to play out,” he said.
Quess said the demand for IT sector staffing has been robust unlike other industry sectors.
“By and large we are seeing different industries are recovering at a different pace. The market leaders are hiring at a faster pace,” said Moraje, adding that sectors such as hospitality and travel continue to be impacted due to the virus outbreak.
Quess’ Board has
approved subscription of 49% equity shares in Taskmo, a gig economy startup, for Rs 10 crore, to be invested in multiple tranches.
Taskmo is a business-to-business managed marketplace that serves as an on-demand task fulfilment platform for enterprises seeking to outsource task-based operations to a distributed network of gig workers.