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TeamLease Services, one of India's top staffing firms, reported a 12% rise in second-quarter profit on Wednesday, driven by strong demand in its mainstay general and specialised staffing divisions.
Consolidated net profit rose to 275.2 million rupees ($3.13 million) for the three months ended September 30, from 245.8 million rupees a year earlier.
Revenue from the general staffing business - which contributes more than 90% to the total - rose 6.7%. The division provides contractual roles across non-IT sectors, including manufacturing, retail and telecom.
This lifted total revenue by 8.4% to 30.32 billion rupees.
Revenue from the specialised staffing division - its second-largest vertical - rose 34.3%, driven by robust demand from global capability centres (GCCs), which offer software, finance, and R&D support to their global parent firms.
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"GCC focused approach in specialised staffing with diversified product offerings had helped with growth momentum in both revenues and profits," Managing Director Ashok Reddy said in a statement.
"While BFSI headwinds in general staffing persist, contribution from retail, e-comm, consumer and telecom verticals are promising," Reddy said.
Last week, peer Quess Corp clocked a 2% growth in quarterly profit.
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