JUST IN
JK Tyre and Industries' Q3 profit up 24%, income rises 17% to Rs 3,622 cr
Investors fret on Google, Apple, Amazon's lackluster quarterly performance
Elon Musk surprise appearance as high-profile Tesla tweet trial wraps up
Ford Motor's shares tumble as CEO says $2 bn profit left 'on table'
Paytm's consolidated net loss narrows to Rs 392 crore in third quarter
India's IndiGo seeks partnerships to expand international network
Chennai-based firm's eye drops contaminated, says US FDA report
Govt gets 33% stake in Vodafone Idea, promoters to invest as well
S&P revises Adani Ports, Adani Electricity outlook from stable to negative
Larsen & Toubro sees private capex revival aiding order inflows: CFO
You are here: Home » Companies » News
Bharat Forge posts Rs 270-cr net profit for September quarter
icon-arrow-left
UBS Principal Capital Asia sells InterGlobe Aviation shares worth Rs 900 cr
Business Standard

TeamLease Services posts net loss of Rs 49 crore for Sept quarter

The leading staffing firm on Friday reported a net loss

Topics
TeamLease Services | Hiring activity | Q2 results

Press Trust of India  |  New Delhi 

Referral programmes promote mediocrity: TeamLease study
The general staffing headcount increased 28 per cent year-on-year and 9 per cent quarter-on-quarter with the highest ever quarterly net addition of 14,000 associates

Leading staffing firm TeamLease Services on Friday reported a net loss of Rs 49.3 crore for the quarter ended September 30, 2021.

The company had posted a net profit of Rs 18.6 crore for the year-ago period, TeamLease Services said in a release.

"Q2FY22 includes exceptional provision of Rs 75 crore towards stressed investments in PF Trust," the release said.

Total revenue saw 34 per cent year-on-year growth at Rs 1,529 crore, as against Rs 1,140.6 crore in the corresponding period a year ago.

The general staffing headcount increased 28 per cent year-on-year and 9 per cent quarter-on-quarter with the highest ever quarterly net addition of 14,000 associates.

The IT staffing headcount rose 21 per cent year-on-year and 11 per cent quarter-on-quarter.

"Our investments across sales, marketing, structure and talent have helped deliver strong headcount growth in volume businesses and build a good pipeline for the year. HR Services, with major contribution from EdTech, has turned profitable," said Ashok Reddy, Managing Director, TeamLease Services.

Reddy further said "we continue our investments in digitization, hiring and talent pipeline for long term growth and sustenance."

Shares of TeamLease Services settled at Rs 4,657.65 apiece on BSE, down 0.04 per cent from the previous close.

(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.)

Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

Read our full coverage on TeamLease Services

First Published: Fri, November 12 2021. 20:00 IST

`
RECOMMENDED FOR YOU
.