Business services provider Quess Corp announced on January 13, 2025, that it has received an income tax refund order for the assessment year 2017-18.
The order, issued by the Deputy Commissioner of Income Tax under Section 154 of the Income Tax Act, confirms a refundable amount, including interest, totalling ₹20.74 crore. Quess Corp disclosed the receipt of the order in a regulatory filing, stating that the refundable amount pertains to the assessment year 2017-18.
On January 14, 2025, Quess Corp share price traded up by 3.69% at 11:38 AM (IST) at ₹624.55, while the BSE benchmark Sensex gained 369.02 points to 76,699.03. Quess Corp’s share price reached a 52-week high of ₹875 on September 23, 2024, and a 52-week low of ₹460 on February 13, 2024. As per BSE, the total traded volume for the stock stood at 6247 shares with a turnover of ₹38.75 lakhs.
At the current price, Quess Corp shares are trading at a price-to-earnings (P/E) ratio of 20.98x, based on its trailing 12-month earnings per share (EPS) of ₹29.77, and a price-to-book (P/B) ratio of 3.27, according to exchange data.
For the second quarter of the financial year 2024-25, Quess Corp reported net profit of ₹32 crore, compared to ₹71 crore in the same quarter last year. The company’s revenue from operations jumped to ₹5,179.3 crore up from ₹4,748.3 crore in Q2 FY24. The company’s operating profit also showed growth, with EBITDA rising to ₹195.5 crore in Q2 FY25, from ₹168.3 crore in Q2 FY24.
In addition to positive earnings, Quess Corp reported a significant increase in its cash position for Q2 FY25. Net cash reached ₹334 crore, up ₹102 crore from March 2024. Furthermore, Quess Corp reduced its gross debt by ₹117 crore, bringing it down to ₹253 crore as of Q2 FY25.
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Published on: Jan 14, 2025, 12:59 PM IST
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