Quess Corp’s Consolidated PAT Doubles to Rs 89 Cr in December Quarter: A Tale of Growth and Strategic Leadership
In a significant development, Quess Corp witnessed a remarkable surge in its consolidated Profit After Tax (PAT), doubling to a staggering Rs 89 crore during the final quarter of December 2021.
Marking a substantial leap of 93.47 percent, the company’s PAT soared from its previous standing at Rs 46 crore in the corresponding quarter of the fiscal year 2020-21, as highlighted in a statement by Quess Corp.
The revenue from operations experienced an impressive growth spurt as well, escalating by 31.23 percent to reach Rs 3,685 crore during the period of October-December 2021, as compared to Rs 2,808 crore recorded in the prior year’s quarter.
Adding to the corporate narrative, Quess Corp announced the appointment of Guruprasad Srinivasan as its Executive Director and Group CEO (ED and CEO) with immediate effect. This move comes as Suraj Moraje, the incumbent MD and Group CEO, relinquished his position, effective from February 10, 2022.
Reflecting on the performance, Guruprasad Srinivasan, the ED and Group CEO, articulated, “The third quarter witnessed the unfolding of the economy, providing a favorable backdrop for our operations. We are steadfast in capitalizing on the growth momentum established in preceding quarters.”
“While our workforce management (WFM) and Global Technology Solutions (GTS) platforms continue to excel, our unwavering commitment to technological advancement remains intact. The recent investments garnered in Monster.com underscore the advancements made in our digital assets,” Srinivasan remarked.
Expressing the company’s strategic direction, he affirmed, “Quess Corp remains committed to fostering growth, enhancing technology-driven solutions, driving operational efficiencies, and harboring optimism for the future, with a steadfast focus on achieving and sustaining a 20 percent Return on Equity (ROE).”
Concluding the financial discourse, shares of Quess Corp closed at Rs 661.20 on Thursday, marking a decline of 9.32 percent on the Bombay Stock Exchange (BSE).