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Quess Corp Q2 net surges over four-fold to Rs 141 cr

Bengaluru-based firm said it is spending around Rs 40 cr to buy 70% stake in Vedang Cellular Services

BS Reporter  |  Bengaluru 

HR firm Quess Corp to raise Rs 400 crore via IPO

portfolio firm said second quarter net profit over four-fold (366  per cent) to Rs 141 crore as it expanded operating margins threefold.

Revenue grew 25.4 per cent to Rs 1274 crore as business expanded  across verticals, except in industrials where it saw factories not expanding due to the business environment.

said it increased workforce by half to over 212,500 people as it deployed more resources for clients in and technology firms.

The said it is spending around Rs 40 crore to buy 70 per cent stake in Vedang Cellular Services, a firm that builds telecom network products.

"We are pleased with our solid organic growth for Q2’18 despite a challenging economic environment. Quess grew Revenues by 25% YoY and 7% on a QoQ basis. During the quarter, we also successfully completed our first Institutional Placement Programme through which we raised ₹874 crores,’’ Ajit Isaac, CMD and CEO of said in a statement.

First Published: Wed, October 25 2017. 21:45 IST