Quess Corp LimitedQ2 FY27 Results & Financial Update
Quess Corp Limited: Q2 FY27 consolidated results and company financials – revenue ₹4,396.49 Cr, PAT ₹74.66 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Quess Corp Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Quess Corp delivered consolidated revenue of ₹4,396.49 crore for the quarter ended September 30, 2026 (Q2 FY27). The company's investor presentation notes a 15% year-on-year revenue increase supported by broad-based expansion across business divisions.
Profit after tax (PAT) for Q2 FY27 stood at ₹74.66 crore, supported by a net tax credit during the quarter, while diluted earnings per share (EPS) was reported at ₹5.05.
General Staffing remained the primary growth engine, achieving quarterly revenue of ₹3,823 crore which included a one-time increase of ₹120 crore resulting from the implementation of the new Labour Code.
Operating performance across segments remained resilient, with General Staffing operating margins rising 23% year-on-year to ₹57 crore, while Professional Staffing maintained steady execution despite lower consultant utilization rates impacting sequential growth.
Cash generation remained robust during the quarter, with total cash collections exceeding ₹5,000 crore and net cash improving to ₹471 crore after accounting for the payment of the FY26 final dividend of approximately ₹45 crore.
The Board of Directors approved an interim dividend of ₹5 per share, reflecting continued cash generation and a stable capital allocation strategy following the ongoing corporate simplification initiatives.
01 · Business model
What does Quess Corp do?
Established in Bengaluru in 2007, Quess Corp Limited operates as India's largest tech-enabled workforce platform and talent infrastructure company, helping enterprises hire, manage, and scale talent across diverse functions and industries.
The company's core operations span general staffing, professional IT and non-IT staffing, recruitment services, global capability centre (GCC) services, overseas staffing in APAC and the Middle East, and proprietary digital platforms that cater to blue-collar and gig workers.
Quess manages an active workforce of approximately 5,04,000 employees and associates across 8 countries, serving over 2,300 active clients across sectors such as banking and financial services, retail, telecom, manufacturing, and ecommerce.
The operating model combines physical sourcing networks across more than 70 hubs and 30 offices in India with proprietary technology solutions, including over 1,400 recruiters powered by internal AI tools and mobile-first HRMS platforms.
02 · Historical context
What shaped the business before this quarter
Quess Corp was established in Bengaluru in 2007 and expanded rapidly in staffing services, culminating in a strategic investment by Fairfax Financial Holdings in 2013.
The company broadened its service scope into diversified workforce management, digital platforms, and international geographies across APAC and the Middle East.
Quess initiated a structural reorganization to establish a simplified corporate structure focused specifically on core staffing and talent infrastructure.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q2 FY27 |
|---|---|
| Revenue from operations | ₹4,396.49 Cr |
| Total income | ₹4,398.51 Cr |
| Profit before tax | ₹64.64 Cr |
| Profit after tax | ₹74.66 Cr |
| EPS | ₹5.05 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
General Staffing revenue reached ₹3,823 crore, up 15% year-on-year, bolstered by the addition of 116 new contracts and strong onboarding volumes.
Reported quarterly revenue included a one-time increase of ₹120 crore arising from the statutory implementation of the new Labour Code.
Professional Staffing revenue grew 13% year-on-year to ₹254 crore, driven by robust demand in GCC services and high-value tech skill mandates.
Overseas businesses generated ₹318 crore in revenue, marking a 10% year-on-year increase despite localized currency fluctuations and geopolitical headwinds in the Middle East.
What drove margins
Adjusted EBITDA (excluding non-cash ESOP expenses of ₹6 crore) reached ₹92 crore, representing an adjusted EBITDA margin of 2.1%.
General Staffing operating margin expanded by 23% year-on-year to ₹57 crore, while Overseas Business operating margin rose 23% to ₹22 crore.
05 · Demand, customers & order book
Where demand is coming from
Active clients surpassed 2,300, with approximately 30% of clients maintaining a tenure of 5 years or more with the company.
General Staffing added 116 new contracts during the quarter, while Professional Staffing added 27 new contracts, bringing H1 FY27 professional contract additions to 62.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Active associates reached approximately 490,000, with a net addition of 20,857 associates during the quarter and improved core-to-associate ratios of 289.
Headcount stood at 7,566 associates at quarter exit with the addition of 437 associates; Global Capability Centre (GCC) services contributed 71% of segment headcount and revenue.
Singapore added 8 new contracts with 59 local headcount additions, Philippines recorded 15% year-on-year revenue growth, and Malaysia achieved 50% year-on-year revenue growth.
Geography and market mix
Quess sourced candidates from over 700 districts across India, supported by more than 30 offices and a centralized Center of Experience in Jaipur.
Overseas operations spanned 7+ countries across APAC (Singapore, Malaysia, Philippines, Vietnam, Sri Lanka) and the Middle East (Dubai, Abu Dhabi).
07 · Strategy & new businesses
How the company is trying to change its growth mix
Digital platforms continued scaling operations, with Hamara Jobs exceeding 12.6 million job seekers, Hamara HR recording over 150,000 daily active users, and Taskmo supporting a gig worker community of over 75,000.
08 · Reported developments
What changed operationally
Quess was recognized as a Great Place to Work certified organization in India for the seventh consecutive year, alongside certifications in Singapore and the UAE.
09 · Pressure points & risks
What is not going smoothly
Professional Staffing experienced margin pressures from lower consultant utilization rates during the quarter, impacting sequential revenue conversion.
10 · Items worth noticing
The line items that can distort a quick read
Revenue for Q2 FY27 included a statutory one-time increase of ₹120 crore resulting from the implementation of the new Labour Code.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Cash collections exceeded ₹5,000 crore during the quarter, reflecting disciplined working capital management and stable collection cycles.
Net cash position strengthened to ₹471 crore as of September 30, 2026, up from ₹271 crore at FY26 year-end after paying the final FY26 dividend.
Capital allocation & funding
The company maintained a zero-debt balance sheet structure alongside high credit ratings of [ICRA]AA (Stable) / A1+.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Interim Dividend Approval
The Board of Directors approved an interim dividend of ₹5 per share, with the record date set for November 6, 2026.
13 · Previous-quarter changes
What changed since the previous quarter
Consolidated revenue expanded sequentially from ₹4,182 crore in Q1 FY27 to ₹4,396 crore in Q2 FY27.
14 · Key Q&A
The quarter, answered directly
What does Quess Corp do?
Established in Bengaluru in 2007, Quess Corp Limited operates as India's largest tech-enabled workforce platform and talent infrastructure company, helping enterprises hire, manage, and scale talent across diverse functions and industries.
What is the clearest takeaway from Q2 FY27?
Quess Corp delivered consolidated revenue of ₹4,396.49 crore for the quarter ended September 30, 2026 (Q2 FY27). The company's investor presentation notes a 15% year-on-year revenue increase supported by broad-based expansion across business divisions.
What drove revenue or demand?
General Staffing revenue reached ₹3,823 crore, up 15% year-on-year, bolstered by the addition of 116 new contracts and strong onboarding volumes.
What mattered most for margins or profitability?
Adjusted EBITDA (excluding non-cash ESOP expenses of ₹6 crore) reached ₹92 crore, representing an adjusted EBITDA margin of 2.1%.
What changed operationally beyond the headline numbers?
Digital platforms continued scaling operations, with Hamara Jobs exceeding 12.6 million job seekers, Hamara HR recording over 150,000 daily active users, and Taskmo supporting a gig worker community of over 75,000.
What are the main pressure points disclosed for the quarter?
Professional Staffing experienced margin pressures from lower consultant utilization rates during the quarter, impacting sequential revenue conversion.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Interim Dividend Record Date: Monitor dividend payout execution following the record date of November 6, 2026.
- 02
Associate Headcount Scaling: Track associate headcount additions across General Staffing and professional GCC verticals in subsequent quarters.
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