TeamLease Services Ltd (TEAMLEASE:NSI) reported revenue from operations (net of taxes) rose slightly by 0.7% year over year in its fiscal fourth quarter ended 31 March 2021.

The Bangalore-based staffing firm reported revenue decreased by 8.2% in its specialised staffing services segment.

TeamLease rival Quess Corp reported its results last week with revenue flat during its fourth quarter. 

The group reports in three segments: General Staffing and Allied Services which comprises staffing operations, temporary recruitment and payroll & NETAP (National Employability Through Apprenticeship Program), Specialised Staffing Services which comprises IT staffing operations and telecom staffing operations, and Other HR Services which comprises permanent recruitment, regulatory compliance, training operations, job portal and education technology.

The company said that its billable headcount has gone up by 8% sequentially and 4% year on year. General Staffing is back to pre-Covid levels of headcount and has surpassed pre-Covid revenue run rate, the group added.

TeamLease told the Business Standard, “The pandemic has given us an opportunity to strengthen digitalisation strategy and accelerate client partnership initiatives on productivity enhancement. While the second wave of Covid can marginally impact growth in the current quarter, the company continues to play to the market opportunities in the long run.”

TeamLease Services set a new 52-week high during today's trading session when it reached INR 4,097.70 (USD 56.17). Over this period, the share price is up 112.42%. The company last traded at INR 3,657.95 (USD 50.14), up 5.71% on the day. The company has a market cap INR 59.10 billion (USD 810.1 million).