TeamLease Q4 net profit up 23 pc to Rs 26 cr

Staffing company TeamLease Services Wednesday reported a 23 per cent rise in consolidated net profit at Rs 26 crore for the quarter ended March 2019. The firm had posted a net profit of Rs 21.2 crore in the corresponding quarter last year, a company statement said.

During the quarter under review, the firm's total revenue rose 19 per cent to Rs 1,168.6 crore from Rs 978.7 crore in the year-ago period, it said. "Our business acquisition of eCentric is expected to give us a 40 per cent inorganic growth in the IT staffing segment and increase the client base," TeamLease Services Managing Director Ashok Reddy said.

"The general hiring trends look positive for the fiscal year 2020 and we are geared up for scale," he added. Shares of TeamLease Services Wednesday ended at Rs 2,986.50 apiece on the BSE, down 2.89 per cent from its previous close.

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