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TeamLease Services gains after strong Q4 results

Capital Market 

TeamLease Services rose 1.99% to Rs 1,222.55 at 10:25 on after consolidated net profit spurted 320% to Rs 38.45 crore on 22.37% rise in net sales to Rs 800.35 crore in Q4 March 2017 over Q4 March 2016.

The announcement was made after market hours yesterday, 18 May 2017.

Meanwhile, the S&P Sensex was up 251.64 points, or 0.83% to 30,686.43.

On the BSE, 1,265 shares were traded in the counter so far, compared with average daily volumes of 6,183 shares in the past one quarter. The stock had hit a high of Rs 1,259.50 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 1,210.15 so far during the day. The stock hit a 52-week low of Rs 828.05 on 5 December 2016.

The stock had outperformed the market over the past one month till 18 May 2017, rising 14.05% compared with 3.74% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 36.99% as against Sensex's 6.91% rise.

The small-cap company has equity capital of Rs 17.10 crore. Face value per share is Rs 10.

Net profit was positively impacted by the tax benefits availed under section 80JJAA of the Income Tax Act, 1961 and deferred tax benefits availed from the recently acquired subsidiaries, TeamLease Services said in a statement.

Earnings before interest, tax, depreciation and amortization (EBITDA) rose 77% to Rs 14.7 crore in Q4 March 2017 over Q4 March 2016. This was achieved by way of margin expansion in general staffing and contribution from IT staffing during FY 2017.

TeamLease Services is one of India's leading human resource service companies in the organized segment.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 19 2017. 10:26 IST