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Board of Quess Corp approves purchase of additional 3.76% stake in Vedang (subsidiary)

At meeting held on 27 January 2021The Board of Quess Corp at its meeting held on 27 January 2021 has approved purchase of 3.76% shares of Vedang Cellular Services (Vedang), a Subsidiary of the Company from its erstwhile Promoter as per the Promoter s Put Option in the Shareholder s Agreement dated 25 October 2017 for a consideration upto Rs. 70 lakh. Consequently, the Company will hold 92.47% shares in Vedang upon completion of the transfer of shares. Powered by Capital Market - Live News (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these

Quess Corp rises Q3 PAT grows 39% to Rs 46 cr

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.