Stocks To Watch: Hero MotoCorp, Quess Corp, IRCTC, Avenue Supermarts bloombergquint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloombergquint.com Daily Mail and Mail on Sunday newspapers.
Quess Corp hikes stake in Taskmo business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
At meeting held on 27 January 2021The Board of Quess Corp at its meeting held on 27 January 2021 has approved the subscription of 49% equity shares in Taskmo, legal entity name - Stellarslog Technovation, a gig economy start-up for Rs. 10 crore, to be invested in multiple tranches.
Taskmo is a B2B managed marketplace that serves as an on-demand task fulfilment
platform for enterprises seeking to outsource task based operations to a distributed network
of gig workers. It uses an app and web based proprietary algorithm to train, match and
deploy gig workers.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Quess Corp rose 1.18% to Rs 554.60 after consolidated net profit tanked 39.1% to Rs 45.58 crore on 4.8% fall in net sales to Rs 2,807.89 crore in Q3 December 2020 over Q3 December 2019.
Consolidated profit before tax (PBT) rose marginally by 0.2% to Rs 80.08 crore in Q3 December 2020 as against Rs 79.95 crore in Q3 December 2019. Current tax expense for the quarter dropped 25.5% to Rs 16.64 crore as against Rs 22.35 crore in Q3 December 2019. The Q3 result was declared after market hours yesterday, 27 January 2021.
Consolidated EBITDA tumbled 16% to Rs 151 crore in Q3 December 2020 over Rs 179 crore in Q3 December 2019. EBITDA margin stood at 5.37% in Q3 FY21 as against 6.08% in Q3 FY20.