Quess Corp’s shares rises experienced a notable recovery, gaining over 8% on September 3. This increase effectively ended the stock’s four-day losing streak. Notably, the stock reached a 52-week high, closing at ₹834 per share, up from the previous close of ₹771.55.
Quess Corp shares rises
Quess corp shares rises include increased manpower additions and the expected completion of the company’s demerger by the end of the fiscal year. These developments have positively influenced investor sentiment, leading to the significant rise in share price.
Strong Six-Month Performance
Over the past six months, Quess Corp’s shares have surged by 61%. This impressive growth far exceeds the performance of the Nifty 50 index, which has only increased by 12% during the same period. Consequently, Quess Corp has solidified its position as a strong performer in the market.
Progress on Demerger Plans
In February 2024, Quess Corp announced its intention to split into three separate entities. Both the NSE and BSE have since provided no-objection certificates for the demerger plan. With these approvals in place, Quess Corp has moved forward by submitting an application to the National Company Law Tribunal (NCLT). This step is crucial for the finalization of the demerger process.
Expansion of Global Workforce
In addition to the demerger, Quess Corp has made significant strides in expanding its global workforce. The company recently announced that it now employs over six lakh people, positioning it among the top staffing firms globally. “This achievement places us on the global stage as one of the largest employers worldwide. In India, we continue to maintain a significant lead,” Quess Corp’s management shared in a recent interview with ET Now. Additionally, they emphasized, “We’ve been consistently adding between 60,000 to 70,000 net employees annually. We’re pleased with our current position and are committed to pursuing an aggressive growth trajectory.”
Robust Financial Performance in Q1 FY25
In Q1 FY25, Quess Corp’s financial results were equally strong. The company reported a 14% increase in consolidated net profit quarter-on-quarter, reaching ₹111.7 crore. Meanwhile, revenue from operations grew by 8.8% QoQ to ₹5,003 crore. Furthermore, on a year-over-year basis, the company saw its consolidated net profit and revenue increase by 132% and 9%, respectively.
Earnings and Profit Growth
Quess Corp’s Earnings Per Share (EPS) also showed remarkable improvement, surging by 116% year-on-year. This impressive growth is further underscored by a rise in Profit After Tax (PAT), which reached ₹112 crore—a 132% year-on-year increase and a 14% growth quarter-on-quarter.
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