TeamLease Services Ltd (TEAMLEASE:NSI), the India-based staffing firm, reported yesterday standalone revenue from operations (net of taxes) of INR 20.52 billion (USD 211.3 million), up 20% year-over-year in its fiscal second quarter ended 30 September 2023.

General Staffing and Allied Services is comprised of Staffing, Temporary Recruitment and Payroll & NETAP (National Employability Through Apprenticeship Program).

Other HR Services comprises of Regulatory Compliance & Training.

Revenue by segment

At the group level, TeamLease exceeded 300,000 in headcount.

In General Staffing, the group added approximately 28,000 net headcount in the H1 period taking the total billable headcount to approximately 251,000.

Ashok Reddy, managing director, TeamLease Services Limited, said, “Staffing outlook has been positive on the back of strong hiring trends across all non-IT industry verticals. We have added over 28,000 net headcounts in Staffing in the first half of the year, aided by festive demand in Q2. Measures taken toward cost optimisation, hiring, and sales restructuring helped us accelerate revenues and profitability. With strong leadership teams built across all business units, we are confident of maintaining growth momentum into the future. Uncertainty in IT staffing outlook continues.”

TeamLease shares closed yesterday at INR 2503.05 (USD 30.06), up 1.4% on the day. The company has a market cap of INR 42.04 billion (USD 504.8 million).