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View All NewsIndia – TeamLease Q4 revenue rises 11.5%, full year revenue up 21.4%
TeamLease Services Ltd. (TEAMLEASE:NSI), a Bangalore, India-based staffing provider reported consolidated revenue today rose 11.5% in its fiscal fourth quarter ended 31 March 2023. Overall headcount was down 0.9% over the year.
| (INR millions) | Q4 2023 | Q4 2022 | % change | Q4 2023 (USD millions) |
| Revenue from operations (net of taxes) | 20,272 | 18,174 | 11.5% | 246.1 |
| Other income | 98 | 46 | 113.0% | 1.2 |
| Total revenue | 20,371 | 18,220 | 11.8% | 247.3 |
| Profit before tax | 263 | 349 | -24.6% | 3.2 |
| Net profit | 243 | 316 | -23.1% | 2.9 |
Revenue by segment
| (INR millions) | Q4 2022 | Q4 2021 | % change | Q4 2022 (USD millions) |
| General staffing and allied services | 18,536 | 16,389 | 13.1% | 225 |
| Specialised staffing services | 1,399 | 1,465 | -4.5% | 16.9 |
| Other HR services | 337 | 318 | 5.9% | 4.0 |
Full-year results
| (INR millions) | FY 2022 | FY 2021 | % change | FY 2022 (USD millions) |
| Revenue from operations (net of taxes) | 78,699 | 64,798 | 21.4% | 955.5 |
| Other income | 439 | 197 | 122.8% | 5.3 |
| Total revenue | 79,139 | 64,995 | 21.7% | 961.0 |
| Profit before tax | 1,150 | 455 | 152.7% | 13.9 |
| Net profit | 1,115 | 395 | 182.2% | 13.5 |
Ashok Reddy, Managing Director, TeamLease Services Limited, “General staffing business has witnessed uniform growth across industry verticals with a strong outlook for upcoming quarters.”
Reddy also announced that Executive Director Rituparna Chakraborty will be stepping down from her role and will take on a non-executive Board member role.
“This transition, after having built Teamlease for 20 years will give her the space to pursue a different set of challenges in the years ahead,” Reddy said. “She leaves Teamlease as a far larger, stronger organization and we will always be grateful for her contribution & commitment to Teamlease and to our Cause of ‘Putting India to Work’. Thank you Ritu for the many years of work, passion, and commitment and for building TeamlLease to where we are today.”
TeamLease Services shares closed today at INR 2,316.50 (USD 28.12), up 2.68% on the day and 15.41% above the 52 week low of INR 2,007.25 (USD 24.36) set on 9 May 2023. The company has a market cap of INR 38.55 billion (USD 467.93 million).