ECONOMY

TeamLease Q1 Review – Revenues To Improve In Coming Quarters: ICICI Direct

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Teamlease Services Ltd. reported healthy revenue growth in Q1 FY22.

General staffing revenues increased 1.3% QoQ. The company has added 47 new logos with largest contribution from e-commerce, telecom and consumer verticals.

Revenues in specialised staffing segment increased 17.0% QoQ to Rs 114.3 crore. Margins in the quarter were impacted due to hiring.

Revenue in HR services increased 21.1% QoQ.

The company expects HR services profitability to improve led by shutting of recruitment business, sunset in government business and Ed tech companies turning positive.

TeamLease has adopted a new tax regime that has led to zero taxation and no cash outflow for the company.

Click on the attachment to read the full report:

ICICI Direct TeamLease Q1FY22 Result Update.pdf

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