Quess Corp posts 79% rise in Q3 net profit
Business services provider, Quess Corp on Tuesday announced the financial result for the quarter ended on December 31. The company reported 79.4% rise in profit after tax (PAT) at Rs 31 crore during the quarter as against Rs 17 crore in December 31, 2015.
The company's revenue grew by 13.3% on year-on-year basis to Rs 1,027 crore in Q3FY17 from Rs 906 crore in Q3FY16.
The EBITDA margin was improved by 107 basis points to 5.5% as against 4.4% in Q3FY16. EBITDA rose by 40.9% to Rs 56 crore compared to Rs 40 crore in the previous year. This was achieved on the back of margin expansion across key segments with significant contribution from the turnaround of Brainhunter and MFX, which have been EBITDA positive for the past two quarters, the company said in a press release.
Commenting on the results, Ajit Issac, CMD and CEO, said, "We are pleased with another strong quarter at the revenue level along with healthy improvements in EBITDA margin of 107 bps. The focus on margin expansion continues to be an area of high priority for us and we are now seeing sustained traction on this front."
Moreover, the company also announced the appointment of Amitabh Jaipuria as the President and Chief Executive Officer of its Global Services business.