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TeamLease Services posts consolidated fourth quarter profit of Rs 19.64 cr

Revenue from operations went up marginally by 1 per cent

TeamLease Services | Q4 Results | corporate earnings

Press Trust of India  |  Mumbai 

Analysts attribute the  poor corporate earnings to a slowdown in aggregate demand in the economy
Representational image

Staffing company on Wednesday reported a consolidated profit after tax (PAT) of Rs 19.64 crore for the quarter ended March 2021.

The company had posted a loss of Rs 29.43 crore during the corresponding period of 2019-20, said in a BSE filing.

Revenue from operations went up marginally by 1 per cent to Rs 1,340.52 crore, as compared to Rs 1,330.29 crore in Q4 FY20.

For the full fiscal 2020-21, the company's PAT more than doubled to Rs 78.47 crore compared to Rs 34.97 crore in FY20.

However, revenue from operations for FY21 dropped 6.13 per cent to Rs 4,881.45 crore as against Rs 5,200.72 crore in the previous fiscal.

"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 digitalisation strategy and accelerate client partnership initiatives on productivity enhancement.

"While the second wave of Covid can marginally impact growth in the current quarter, we continue to play to the market opportunities in the long run," Managing Director Ashok Reddy said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, June 09 2021. 17:57 IST