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Quess Corp, a leading business services provider said that its revenues for the third quarter of the current fiscal grew by 14 per cent to ₹3,685 crore compared to the previous quarter. Net profit in the third quarter grew to ₹89 crore from ₹41 crore in the previous quarter.
The company said that Guruprasad Srinivasan, the COO till date, has been elevated to Executive Director and Group CEO with immediate effect after the incumbent MD and Group CEO Suraj Moraje resigned on February 10.
‘Founding member’
Announcing the appointment, Ajit Isaac, Chairman, Quess Corp, said, “We are delighted to have a home-grown leader come on board as the next ED and CEO of the company. Guru’s journey with us as one of the founding members, his leadership across businesses during the growth and consolidation phase of Quess, and his exceptional track record, makes him an outstanding choice to further accelerate our business transformation and shape our culture. His priorities will be to develop our market share, enhance margins through technology adoption and discover value for our shareholders in our digital assets.”
Guruprasad Srinivasan is one of the founding members of Quess Corp with over 25 years of corporate experience, of which 14 years have been with Quess. A Stanford Ignite alumni from the batch of 2015, the company said that Srinivasan has played a pivotal role in Quess’s growth journey and its emergence as one of India’s largest private sector employers. Before taking over as ED and CEO, he was the Chief Operating Officer and responsible for workforce management and operating asset management platforms.
Guruprasad Srinivasan, Group CEO and ED, Quess Corp, said, “I am privileged to be taking over the reins of Quess Corp at an exciting time for this industry. Quess is a very special organisation for me with a deep commitment to creating long-term shareholder value, customer delight and continuing a culture of innovation and entrepreneurship. I look forward to working with our exceptional team, to continue the institution building process at Quess, and further enhance the company’s contribution to the societies in which we operate.”
Lower share prices
However, Quess shares on the bourses have been under pressure over the last one month following alleged differences in strategy between the Chairman and the outgoing CEO, though the company did not comment on the same. Quess shares have lost more than 20 per cent value in the last one month and on Friday closed at ₹641.3 per share.
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