
-
ALSO READ
TeamLease Services rallies 17%, hits new high post March quarter results
TeamLease Services shares close nearly 6% higher after Q4 earnings
TeamLease Services posts consolidated fourth quarter profit of Rs 19.64 cr
TeamLease's Q1 PAT jumps 57%; Ramachandran named non-exec chairman
Demand for freshers to go up 7% points in current quarter: Teamlease
-
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 .
First Published: Fri, November 12 2021. 20:00 IST
RECOMMENDED FOR YOU