TeamLease Services soars after stellar Q4 performance

TeamLease Services jumped 6.70% to Rs 3687.05 after the company reported a consolidated net profit of Rs 19.6 crore in Q4 FY21 as against net loss of Rs 29.4 crore in Q4 FY20.

Operating revenue rose 1% to Rs 1,340.5 crore during the quarter as compared to the same period last year.

EBITDA increased by 32% to Rs 26 crore in Q4 FY21 from Rs 19.6 crore in Q4 FY20. EBITDA margin was at 1.9% as on 31 March 2021 as compared with 1.5% as on 31 March 2020.

Profit before tax in the fourth quarter stood at Rs 25.4 crore, up 13% from Rs 22.4 crore in Q4 FY20.

The company reported 124% jump in consolidated net profit to Rs 78.5 crore on 6% fall in operating revenue to Rs 4,881.5 crore in FY21 over FY20.

Ashok Reddy, managing director, TeamLease Services commenting on the quarterly results said, "All of our businesses have surpassed pre-Covid levels with strong headcount growth in Q3 and Q4. This pandemic has given us an opportunity to strengthen our digitalization strategy and accelerate client partnership initiatives on productivity enhancement. While the 2nd wave of COVID-19 can marginally impact growth in the current quarter, we continue to play to the market opportunities in the long run."

TeamLease Services is a human resource company offering a range of solutions to 3500+ employers for their hiring, productivity and scale challenges.

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