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Quess Corp Q4 net profit at Rs 75.5 crore

New Delhi, May 22 () Business services provider Quess Corp on Wednesday said its consolidated net profit declined marginally to Rs 75.50 crore in the March 2019 quarter.

The company had posted a net profit of Rs 75.75 crore in the January-March 2018 quarter, Quess said in a statement.

Its revenue from operations grew 21.3 per cent to Rs 2,294.77 crore in the quarter from Rs 1,890.75 crore in the fourth quarter of 2017-18, it added.

For the full year, the company’s net profit dipped to Rs 256.54 crore, while revenue from operations was up 38.2 per cent to Rs 8,526.99 crore from 2017-18.

“PAT (profit after tax) for the full year period in FY19 is not comparable on year-on-year basis due to the one-time tax benefit of Rs 57 crore during FY18 period,” the company said.

Quess Corp Chairman and Managing Director Ajit Isaac said the company’s efforts towards the turnaround of Monster is on course.

“…we believe we will be able to demonstrate targeted results in the coming quarters,” he added.

In 2018, Quess Corp had announced the acquisition of e-recruitment platform Monster.com India for up to USD 7.5 million (about Rs 48 crore), and Monster.com entities in Singapore, Malaysia and Hong Kong for an enterprise value of USD 6.5 million.

Quess Corp’s employee headcount increased 22 per cent year-on-year to 3.18 lakh in the fourth quarter as against 2.61 lakh employees in the year-ago period. Net addition in employee headcount stood at 56,300 for full fiscal of 2018-19. SR HRS

News credit : Indiatimes