TeamLease profit jumps to `11.5 cr
STAFFING services firm TeamLease Services reported a more than twofold jump in net profit to Rs 11.5 crore for the December quarter. The company had posted a net profit of Rs 5 crore in the year-ago quarter. "Our domain agnostic operations with diversified and long-standing client base contributed to consistent growth in revenue and headcount. Steps taken for margin expansion, both organically and inorganically, gained momentum during the quarter," TeamLease Services MD Ashok Reddy said.
Revenue grew by 29 per cent to Rs 814.7 crore in the quarter from Rs 631.1 crore. The staffing associate's headcount increased to 125,207 from 108,630.
TeamLease went up by 9.55 per cent to Rs 973.50 on the BSE.