TeamLease Services turns profitable; posts Rs 31.62 crore net profit in Sept quarter
It stood at Rs 1,523.55 crore in the same period of the previous financial year, according to a regulatory filing.We had a net headcount growth of 6.5k for the quarter and 16k for the half-year. Headwinds in the IT industry have started impacting the specialised staffing growth and may continue for a while.Our HRtech business is gearing up for new sales, product enhancement and digital solutions.
- Country:
- India
Staffing company TeamLease Services on Wednesday reported a consolidated net profit of Rs 31.62 crore in the quarter ended September.
The company had posted a loss of Rs 49.47 crore in the year-ago period.
Revenue from operations rose 28.32 per cent to Rs 1,955.05 crore in the second quarter of the current fiscal. It stood at Rs 1,523.55 crore in the same period of the previous financial year, according to a regulatory filing.
''We had a net headcount growth of 6.5k for the quarter and 16k for the half-year. Headwinds in the IT industry have started impacting the specialised staffing growth and may continue for a while.
''Our HRtech business is gearing up for new sales, product enhancement and digital solutions. Revenue growth and tighter cost control will be the focus areas for the next few quarters,'' TeamLease Services Managing Director Ashok Reddy said.
Shares of the company closed flat at Rs 2,848.40 apiece on BSE.
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