Quess Corp Q1 net profit up 19 pc at Rs 54 cr

Business services provider Quess Corp today reported a 19.16 per cent rise in net profit to Rs 54.40 crore for the quarter ended June 30, 2018.

The company had posted a net profit of Rs 45.65 crore for the same period a year ago, Quess Corp said in a filing to BSE.

"Following the acquisitions done in the previous year, there has been a non-operating accounting charge of Rs 16 crore in the current quarter (Q1'FY19)... post adjustment of these non-operating items, the normalised operating PAT for Q1 FY19 would increase to Rs 70 crore," the company said in a statement.

Revenue from operations rose to Rs 1,968.35 crore for the quarter under consideration from Rs 1,297.30 crore during the same period a year ago.

"We had a promising start to the new financial year. Our revenues grew by 52 per cent and EBITDA by 36 per cent YoY," Quess Corp Chairman and MD Ajit Isaac said.

The company's margins has been impacted by the seasonality in the newly acquired businesses and due to the strategic investments in Monster and DigiCare, he added.

Shares of Quess Corp today closed at Rs 1,131.05 per scrip on BSE, up 3.25 per cent from its previous close.