Shares of Quess Corp Ltd. rose by 8%, reaching a day’s high of Rs 840 on 3rd September after the company announced higher manpower additions and the expected completion of its demerger by this fiscal year.

Kamal Pal Hoda, Group CFO of Quess Corp, recently mentioned that the company anticipates completing the demerger by the end of this financial year, with the three separate entities likely to be rolling out by Q1FY26.

In February 2024, the company had announced its plan to demerge into three separate entities. Both NSE and BSE have issued no adverse observation or no objection certificates for the demerger plan. Following these approvals, Quess Corp has applied to the NCLT.

They announced that its headcount has surpassed six lakhs, placing it among the global leaders in staffing companies. “This achievement puts us on the global map as a major employer. In India, we continue to lead significantly,” the company’s management stated in a recent interview. They added 60,000-70,000 net employees per year and aimed to continue its aggressive growth.

In Q1FY25, the company’s consolidated net profit rose by 14% quarter-over-quarter to Rs 111.7 crore, with revenue from operations increasing by 8.8% to Rs 5,003 crore. Year-over-year, the company’s consolidated net profit surged 132%, and revenue grew by 9%.

At 3:30 PM, the shares of Quess Corp closed 8.09% higher at Rs 834 on NSE.

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