Quess Corp stock gains 8% snapping four-day losing streak; here’s why

The share price of staffing company Quess Corp, on Tuesday, broke its four day losing streak by gaining over 8 per cent on September 3. The stock reached 52-week high on Tuesday, finally closing at ₹834 per share, against previous close at ₹771.55.

This surge is attributed to increased manpower additions and the anticipated completion of the demerger by the end of this fiscal year.

In the past six months, the company's shares have risen by 61 percent, far surpassing the Nifty 50 index, which has increased by 12 percent during the same timeframe.

In February 2024, the company announced its intention to split into three separate entities. Both NSE and BSE have provided a no adverse observation or no objection certificate for the demerger plan. With this approval in hand, Quess Corp has submitted an application to the NCLT.

Quess Corp announced that its workforce has now exceeded six lakh employees, positioning the company among the top staffing firms globally. "This achievement places us on the global stage as one of the largest employers worldwide. In India, we continue to maintain a significant lead," Quess Corp's management shared in a recent interview with ET Now. “We’ve been consistently adding between 60,000 to 70,000 net employees annually. We’re pleased with our current position and are committed to pursuing an aggressive growth trajectory.”

Quess Corp Q1 results

In Q1 FY25, Quess Corp's consolidated net profit surged by 14 percent quarter-on-quarter to ₹111.7 crore, while revenue from operations grew by 8.8 percent QoQ to ₹5,003 crore. Year-over-year, the company's consolidated net profit and revenue increased by 132 percent and 9 percent, respectively.

The company's Earnings Per Share (EPS) showcased remarkable growth, surging by 116 per cent year-on-year. Quess Corp's strong performance is further emphasized by a rise in Profit After Tax (PAT), reaching ₹112 crore, which represents a 132 per cent year-on-year increase and a 14% growth quarter-on-quarter.