TeamLease Services (TEAMLEASE:NSI), a Bengaluru, India-based staffing provider, reported revenue rose 18.7% to INR 25.94 billion (USD 311 million) in its fiscal first quarter ended 30 June.

Staffing has maintained healthy volume growth across quarters and across a diversified portfolio of clients, TeamLease Managing Director Ashok Reddy said in a press release.

TeamLease reported headwinds in the IT industry impacted growth in its specialised staffing operations. However, its general staffing operations’ headcount rose by 15,000 in the quarter, and TeamLease reported growth in trainee headcount in its degree apprenticeship segment excluding the loss of 6,000 National Employability Enhancement Mission trainees during the quarter.

HR services revenue fell because of the seasonality and student admission cycle in the Edtech business, the company said.

“The recent union budget with the proposed initiatives around employment and employability is a welcome enabler for our long-term objective of Putting India to Work,” Reddy said. “Coupled with the implementation of labour codes, we believe these initiatives will drive up formalization and productivity of the workforce in the coming years.”

TeamLease Services – Q1 2025

Segment Revenue

Share price

Shares in TeamLease closed up 1.02% to INR 3,516.95 (USD 42.00) in India on 31 July. They were 4.95% below their 52-week high.