Quess Corp receives Income Tax refund orders worth ₹64 crore for FY22, FY23

Staffing and workforce solutions provider Quess Corp Ltd on Wednesday (March 8) said it has received two orders from the Joint Commissioner of Income Tax (OSD), Central Circle–2(1), Bengaluru, granting income tax refunds totalling ₹63.81 crore for the financial years 2021-22 and 2022-23.

The company received the orders on April 8, 2026, under Section 154 of the Income Tax Act, 1961. Both orders were dated March 11, 2026.

For FY22, the Income Tax Assessing Officer granted a balance refund of ₹39.58 crore. For FY23, the authority granted a balance refund of ₹24.23 crore. Quess Corp said there is no impact on the financial, operational, or other activities of the company.

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Quess Corp Ltd reported a 26% year-on-year (YoY) surge in net profit at ₹80.4 crore for the third quarter that ended December 31, 2024.

In the corresponding quarter of the previous fiscal, Quess Corp posted a net profit of ₹63.8 crore, the company said in a regulatory filing. The company’s revenue from operations increased 14% to ₹5,519 crore as against ₹4,841.8 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA was up 6% to ₹197.2 crore in the third quarter of this fiscal over ₹185.8 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 3.6% in the reporting quarter as compared to 3.8% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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Shares of Quess Corp Ltd ended at ₹188.80, up by ₹5.25, or 2.86%, on the BSE.