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View All NewsIndia – TeamLease second quarter revenue rises 28%
TeamLease Services Ltd (TEAMLEASE:NSI), the India-based staffing firm, reported yesterday standalone revenue from operations (net of taxes) of INR 17.08 billion (USD 211.3 million), up 28% year-over-year in its fiscal second quarter ended 30 September 2022.
| (INR millions) | Q2 2023 | Q2 2022 | Change | Q2 2023 (USD millions) |
| Revenue from operations (net of taxes) | 17,081.6 | 13,331.5 | 28% | 211.3 |
| Total Income | 17,214.8 | 13,415.2 | 28% | 212.9 |
| Profit/loss before tax | 269.8 | 228.5 | 18% | 3.3 |
| Net Profit/loss for the period | 258.9 | -529.1 | - | 3.2 |
Revenue by segment
| (INR millions) | Q2 2023 | Q2 2022 | Change | Q2 2023 (USD millions) |
| General staffing and allied services | 17,010.2 | 13,264.7 | 28% | 210.4 |
| Other HR services | 71.4 | 66.7 | 7% | 0.8 |
General Staffing added net ~5k headcount in Q2 FY23 with growth of 22% over the year.
Group management said that the headwinds in the IT industry have started impacting the specialised staffing growth and may continue for a while.
The Business Standard reported yesterday that the stock was trading at its lowest level since November 2020. Shares in TeamLease Services closed yesterday at INR 2,490.75 (USD 30.81), down 12.4% on the day. The company has a market cap of INR 40.20 billion (USD 497.27 million).