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View All NewsIndia – TeamLease Services third quarter revenue rises 13.9% driven by General Staffing
TeamLease Services Ltd (TEAMLEASE:NSI) reported revenue from operations of INR 20.08 billion (USD 246.1 million) for the third quarter ended 31 December 2022, an increase of 13.9% compared to the same period last year.
| (INR millions) | Q3 2023 | Q3 2022 | % change | Q3 2023 (USD millions) |
| Revenue from operations (net of taxes) | 20,082 | 17,620 | 13.9% | 246.1 |
| Total income | 20,182 | 17,671 | 14.2% | 247.3 |
| Net profit for the period | 290 | 302 | -3.9% | 3.5 |
EBITDA fell 16.0% over the year to INR 320 million (USD 3.9 million). The group’s EBITDA margin stood at 1.6% compared to 2.1% the year prior.
TeamLease is primarily engaged in the provision of manpower services. The company reports in three segments including: General Staffing and Allied Services which comprises staffing operations, temporary recruitment, and payroll & NETAP (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.
| (INR millions) | Q3 2023 | Q3 2022 | % change | Q3 2023 (USD millions) |
| General staffing and allied services | 18,384 | 15,960 | 15.2% | 225.3 |
| Specialised staffing services | 1,407 | 1,358 | 3.6% | 17.2 |
| Other HR services | 290 | 302 | -3.9% | 3.5 |
TeamLease Services shares closed at INR 2,421.15 (USD 29.68), down 0.71% on the day and 8.28% above its 52-week low of INR 2,236.00 (USD 27.41), set on 14 November 2022. The company has a market cap of INR 41.67 billion (USD 510.73 million).