4 November 2019 Revenue grew 26.7% YoY (7.3% beat) in 2QFY20. Excluding the impact from the accounting standard line), up 70bp YoY against the backdrop of the Allsec acquisition, improved efficiencies in IFM, and expansion in the margins of skill development and North America staffing operations. For 1HFY20, revenue/EBITDA/PAT were up 24%/44%/5% YoY. 23% YoY, majorly driven by strong headcount addition in the general staffing business. QUESS added 59,000 associates in 1H, which is significantly more than 35,000 in FY19. The company has been gaining market share aggressively despite increasing its collect and pay offerings (72% of business). QUESS has given a clarification on various issues that were increasing the risk profile for the company. Further, it has assured that the demerger of TCIL will complete by end-3QFY20, post which the public holding will increase by 44% (currently 28%) and QUESS will become a domestically owned company.