TeamLease Services Q1 net profit jumps 48% to Rs 7.36 crore

Staffing services company TeamLease Services today reported a 48% rise in net profit at Rs 7.36 crore for the first quarter ended June 30.

In the April-June period of 2015, the company had reported a net profit of Rs 4.96 crore, a company release said.

Gross revenue of the company also increased to Rs 787.19 crore for the first quarter as compared to Rs 635.26 crore in the corresponding quarter of the previous financial year reflecting a year-on-year rise of 24%.

"The steps we have taken for margin expansion started yielding results and the same can be witnessed in the quarterly results," TeamLease Services Managing Director Ashok Reddy said.

"We believe that the long-term and medium-term trends are relentless forces that will drive the company forward while we stay true to our core objectives and metrics of sales growth, operating cash flows and capital frugality," Reddy said.

The company further said that as of June 30, there was a net increase in associate headcount by over 12,800 as compared to June 30, 2015 and an increase of over 4,800 as compared to March 31, 2016.

Meanwhile, the firm's core employee headcount remained flat between March 31, 2016 (1,278 employees) and June 30, 2016 (1,273 employees).

Shares of the company were trading 2.40% up at Rs 1,151.00 on BSE in pre-close session.