 "HR firm Quess Corp to raise Rs 400 crore via IPO")
Quess Corp has surged 11% to Rs 664 on BSE, also its highest level since listing on July 12, 2016, after the company posted a strong 65.9% year on year (YoY) jump in consolidated net profit at Rs 30.10 crore for the quarter ended September 30, 2016 (Q2FY17). The company had posted a profit of Rs 18.16 crore in the quarter ended September 30, 2015 (Q1FY16).
Revenue grew 26.9% YoY to Rs 1,018 crore from Rs 802 crore in Q2FY16. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin improved 69 basis points to 5.4% as against 4.7% in a year ago quarter.
Business services provider Quess Corp on Wednesday after market hours said it has entered into agreements to acquire stakes in Singapore-based Comtel Solutions and two domestic firms - Terrier Security Services and Simpliance Technologies - for undisclosed sums.
The deal would also give a boost to Quess' operations in Asia Pacific markets such as Malaysia, the Philippines and Sri Lanka, where it operates, it added.
The stock has been more than doubled against its initial public offer (IPO) price of Rs 317 per share. A combined 1.04 million shares changed hands on the counter on the BSE and NSE till 10:34 am.
Revenue grew 26.9% YoY to Rs 1,018 crore from Rs 802 crore in Q2FY16. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin improved 69 basis points to 5.4% as against 4.7% in a year ago quarter.
Business services provider Quess Corp on Wednesday after market hours said it has entered into agreements to acquire stakes in Singapore-based Comtel Solutions and two domestic firms - Terrier Security Services and Simpliance Technologies - for undisclosed sums.
The deal would also give a boost to Quess' operations in Asia Pacific markets such as Malaysia, the Philippines and Sri Lanka, where it operates, it added.
The stock has been more than doubled against its initial public offer (IPO) price of Rs 317 per share. A combined 1.04 million shares changed hands on the counter on the BSE and NSE till 10:34 am.
