TeamLease Services rallies 17%, hits new high post March quarter results

The company said that its general staffing is back to pre-Covid levels of headcount and has surpassed pre-Covid revenue run rate

Shares of TeamLease Services rallied 17 per cent to hit a record high of Rs 4,064.95 on the BSE in intra-day trade on Wednesday after the company reported a consolidated net profit at Rs 19.6 crore for the March quarter (Q4FY21) on the back of healthy operational performance. The company, one of India’s largest staffing companies, had posted a loss of Rs 29.4 crore in the year- ago quarter. The stock surpassed its previous high of Rs 3,884, touched on April 6, 2021.

Total revenue remained flat at Rs 1,350 crore against Rs 1,345 crore in the corresponding quarter