Shares of Quess Corp surged up over 6% on Tuesday morning as the company posted its earnings for the quarter ended September.
What Happened: The Bengaluru-based firm disclosed in an exchange filing late on Monday that its revenue for the quarter ended September reached ₹4,748.3 crore, up 11% as compared to the ₹4,273 crore revenue posted in the same quarter last year.
Quess Corp. reported a 79% year-over-year increase in net profit, totalling ₹71 crore. The profit for the period includes a deferred tax credit of ₹12.92 crore. Both the top and bottom lines managed to beat analyst expectations.
The company’s EBITDA was at ₹164 crore with a margin of 3.4%. Earnings per share for the quarter came in at ₹4.85. “This growth is due to focused efforts over the last few quarters in developing greater automation in our platforms building operational efficiencies and focusing on high-margin businesses,” said group CEO Guruprasad Srinivasan.
The robust results helped the stock continue its gaining streak for the fourth straight session. Ace investor Ashish Dhawan owns a 3.95% stake in the company.
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Price Action: Quess Corp’s share price was up 4.68% to trade at ₹447 in the early hours of trade on Tuesday.
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