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TeamLease Services posts 27% profit rise as staffing demand grows
TeamLease Services has posted a 27 per cent jump in its fourth-quarter profit, owing to steady demand for staffing solutions across various sectors.
For the quarter ending 31 March, the company's consolidated net profit climbed to ₹34.96 crore (approximately $4.09 million), up from ₹27.48 crore in the same period last year.
The rise in recruitment across industries like consumer goods and telecom gave a strong push to TeamLease's core general staffing business.
Revenue from the general staffing segment—which makes up more than 91 per cent of the company's total income—grew by 17 per cent. Meanwhile, its smaller specialised staffing division, which includes IT staffing, also saw an 8 per cent rise in revenue.
Overall, the company's total revenue increased by 17.5 per cent, reaching ₹285.8 crore.
Earlier this week, rival firm Quess Corp reported a 61 per cent increase in its quarterly pre-tax profit.
Q3 revenue of TeamLease Services
In Q3, the company's profit after tax (PAT) stood at ₹28.43 crore as compared to ₹31 crore a year ago. Its revenue from operations stood at ₹2,921.27 crore as compared to ₹2,445.36 crore a year ago.
According to the filing, at the group level, the company added 3,000 employees to the headcount. Revenue grew by 4 per cent quarter-on-quarter (Q-o-Q) and 19 per cent year-on-year (Y-o-Y).
TeamLease Services is a people supply chain company offering a range of solutions to employers for their hiring, productivity, and scale challenges. TeamLease also operates India's Skill University and India's fastest-growing PPP Apprenticeship Program, which offers employment-oriented multi-level programs. The company offers solutions to large, medium, and small clients across the 3Es of Employment (around 350,000 associates/trainees), Employability (over 750,000 students), and E-workforce (over 1,000 employers).
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