TeamLease Services reported a 27% year-on-year rise in its fourth-quarter consolidated net profit to Rs 34.96 crore, driven by steady demand for staffing services across different sectors.
The company reported a net profit of Rs 27.48 crore in the same period last year. The company’s total revenue went up by 17.5%, reaching Rs 285.8 crore.
Growth in hiring across sectors such as consumer goods and telecom helped boost TeamLease’s main general staffing business.
Revenue from the general staffing segment—which accounts for over 91% of the company’s total income—increased by 17%. The specialised staffing division, which includes IT staffing, recorded an 8% rise in revenue.
Earlier this week, competitor Quess Corp reported a 61% rise in its quarterly profit.