TeamLease Sees Significant Profit Growth Amid Sector Challenges
Staffing company TeamLease Services reported a 35.71% increase in profit after tax for the March quarter, reaching Rs 38 crore. Despite economic challenges in FY25's second half, they expanded their associate base and improved IT services. The company's stock rose 4.76% to Rs 2,080.50.
- Country:
- India
Staffing company TeamLease Services has announced a substantial 35.71% growth in its profit after tax (PAT), reaching Rs 38 crore for the quarter ending March 31. This marks a notable increase from the Rs 28 crore reported in the same quarter a year ago, as per the company's regulatory filing.
Despite facing headwinds in the latter half of FY25 from select sectors, TeamLease's total revenue saw an expansion of 17.49%, reaching Rs 2,868 crore compared to Rs 2,441 crore during the identical period last fiscal year. The firm successfully onboarded approximately 25,000 associates within its staffing division.
In a statement, Managing Director Ashok Reddy highlighted the company's achievements in operational efficiency and the improvement of its Global Capability Center (GCC) mix within IT services. Strategically, the company has been focusing on strengthening its service offerings and expanding its geographical reach. Following the positive financial results, TeamLease shares closed at Rs 2,080.50 on Thursday, a 4.76% increase on the BSE.
(With inputs from agencies.)
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