Quess Corp Q1 profits up 34% to Rs 33 crore, to raise funds for M&As

This was on the back of increased sourcing of security services, facilities management from clients

Integrated service provider Quess Corp said first quarter profits grew 34 per cent to Rs 33 crore, while revenue grew 20 per cent to Rs 1,188 crore on the back of increased sourcing of security services and facilities management from clients, who are shifting their dependence from the informal workforce to organised players.

Quess, which has investments from Canadian Billionaire Prem Watsa, saw profits of Rs 25 crore on revenue of Rs 991 crore in the same period last year.

The Bengaluru-based Quess has increased its workforce by 57 per cent over the corresponding quarter to 195,000. Margins stood at