Quess Corp Shares Surge 8% to 52-Week High, Driven by Workforce Growth and Upcoming Demerger

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Posted by pallavi on 2024-11-29 17:48:45 |

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Quess Corp's stock surged over 8% on September 3, snapping a four-day losing streak and reaching a 52-week high of ₹834 per share, up from ₹771.55. The rise is attributed to the company’s continued workforce growth and the expected completion of its demerger by the end of the fiscal year. Over the past six months, Quess Corp's shares have risen by 61%, significantly outperforming the Nifty 50 index, which gained 12% in the same period.

In February 2024, Quess Corp announced its plan to split into three separate entities, with the demerger receiving approval from both the NSE and BSE. The company has submitted its application to the National Company Law Tribunal (NCLT). Additionally, Quess Corp’s workforce has grown to over 600,000 employees, making it one of the top staffing firms globally. The company has been adding 60,000 to 70,000 employees annually and continues to focus on aggressive growth.

For Q1 FY25, Quess Corp reported a 14% quarter-on-quarter increase in net profit, totaling ₹111.7 crore. Revenue from operations grew by 8.8% QoQ, reaching ₹5,003 crore. Year-over-year, net profit surged by 132%, while revenue increased by 9%. The company's Earnings Per Share (EPS) grew by 116% YoY, further highlighting its strong financial performance.

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