Quess Corp rides wild on robust Q2 and Terrier Security Services acquisition

Quess Corp is having a jolly time on the bourses, which is largely driven by robust Q2 results. The company post market hours on October 19 has declared its Q2FY17 results.The company’s revenue in Q2FY17 stands at Rs 1018 crores, which has increased by 18.1 per cent as compared to Q2FY16. Total comprehensive income stands at Rs 29 crores, which has increased by 61 per cent YoY. PAT for this quarter stands at Rs 30 crores, which has increased by 66 per cent as compared to corresponding quarter of the previous fiscal.

Quess Corp has informed the bourses that it has entered into a definitive agreement to acquire a 49 per cent stake in Terrier Security Services India making its entry into the manned guarding and security solutions business.The shares of Quess Corp on October 20 have reacted sharply by surging more than Rs 50. Scrip of the company as at 11.38 am is trading at Rs 652.50, up by 9.32 per cent from its previous closing price.