Quess Corp's optimistic outlook | Steady revenue growth, the US turnaround, and margin expansion

Quess Corp's management is keen on achieving an impressive margin of approximately 4 percent by the end of the fourth quarter of financial year 2024. A leading business services provider offers a wide range of technology-driven staffing and managed outsourcing solutions for various business functions. These services encompass sales and marketing, customer care, after-sales support, back-office operations, telecom operations, manufacturing operations, facilities and security management, HR and finance operations, IT, and mobility services, among others.

The management also laid out a promising roadmap for the company's future. Despite challenges in the North American business, they are optimistic about achieving a 20 percent revenue growth in FY24. The focus on debt reduction and margin expansion indicates a commitment to financial stability and operational efficiency.

In an interview with CNBC-TV18, key executives from Quess Corp, Guruprasad Srinivasan, Executive Director and Group CEO, and Kamal Pal Hoda, Group CFO, shared valuable insights into the company's performance and prospects. Despite challenges, Quess Corp remains optimistic about its growth trajectory, aiming for a 20 percent revenue growth in FY24. The company is also working diligently to address specific concerns, including its turnaround in the US  business, and reducing debt by nearly Rs 100 crore in FY24. Additionally, the management aspires to achieve a margin of approximately 4 percent by the end of Q4FY24.

First up, Srinivasan confidently predicted a 20 percent revenue growth in FY24. This positive projection reflects the company's commitment to tapping into emerging opportunities and leveraging its core competencies in the ever-evolving market landscape.

Addressing concerns about the North American business, Hoda acknowledged that the turnaround process is taking time. While challenges persist, the management remains resolute in its efforts to navigate the complexities of the region's market. Hoda expressed optimism about the future, aiming to achieve breakeven in Q3FY24 for the North American segment.

Another significant aspect of Quess Corp's strategic plan is its commitment to debt reduction. Hoda said that the company aims to reduce debt by nearly Rs 100 crore during FY24. Reducing debt can enhance the company's financial flexibility, increase investor confidence, and pave the way for potential growth opportunities in the future.

For more details, watch the accompanying video