India – Quess Corp reports revenue up 13%, announces leadership changes

Filed under: News |

By memberservices@staffingindustry.com (Danny Romero)

Quess Corp (QUESS:NSI), an Indian staffing services firm reported revenue yesterday for the third quarter ended 31 December 2016 of INR 10.27 billion (USD 150.7 million), an increase of 13.3% compared to INR 9.06 billion (USD 134.0 million).

Q3 2017
USD
Q3 2016
Change
Revenue
INR 10,270 million
150.7 million
INR 9,060 million
13.3%
EBITDA
INR 560 million
8.2 million
INR 400 million
40.9%
Profit After Tax
INR 310 million
4.5 million
INR million
79.4%

Quess Corp announced that it will acquire a 26% stake in Heptagon Technologies Limited, a niche software development company working with machine learning and automation technologies.

The company also made a number of appointments including appointing Amitabh Jaipuria as the President & Chief Executive Officer of its Global Services business. It also appointed Balasubramanian S. as the Group Chief Financial Officer. The company stated that the appointments strengthen Quess’ top leadership team with Jaipuria responsible for Quess’ services business across geographies and Balasubramanian responsible for managing the core finance function at the group level.

“We are pleased to welcome to Quess, Amitabh Jaipuria as President & CEO – Global Services and Balasubramanian S. as Group CFO,” Chief Managing Director and CEO Ajit Isaac said. “Their vast experience leading multinational companies and across industries will be of immense benefit to Quess. Over the past two years, we have bolstered our leadership team to build Quess 2.0, and appointment of Amitabh and Bala is another step in this direction. My colleague, Subrata Nag, who has served as CFO since inception with distinction, will join me at the Corporate office as Executive Director, responsible for overall operations and M&A of the group.”

In trading today, Quess Corp set a new 52-week high during today’s trading session when it reached INR 710.00 (USD 10.4), up 4.98% on the day. Over this period, the share price is up 40.24%. Based on its current share price the company has a market value of INR 85.0 billion (USD 1.24 billion).

Source:: India – Quess Corp reports revenue up 13%, announces leadership changes

      

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