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TeamLease Services Ltd announces Q4 FY20 earnings
Posted On : 2020-06-09 20:42:56( TIMEZONE : IST )
TeamLease Services Limited (NSE: TEAMLEASE, BSE: 539658), one of India’s largest staffing companies, today announced its results for the fourth quarter (Q4FY20) and for the financial year ended March 31, 2020.
Financial Results (Q4 FY19-20) - QoQ Comparison
The company has reported net sales of Rs.1345 crores during the period ended March 31, 2020 as compared to Rs.1358.7 crores during the period ended December 31, 2019.
The company has posted net loss of Rs.(29.4) crores for the period ended March 31, 2020 as against net profit of Rs.25.5 crores for the period ended December 31, 2019.
The company has reported EPS of Rs.(17.2) for the period ended March 31, 2020 as compared to Rs.14.9 for the period ended December 31, 2019.
| Financials | Q4 FY19-20 | Q3 FY19-20 | % Change |
| Total Income | ₹ 1345 crs | ₹ 1358.7 crs |  -1.01% |
| Net Profit | ₹ (29.4) crs | ₹ 25.5 crs | -215.29% |
| EPS | ₹ (17.2) | ₹ 14.9 | -215.44% |
Financial Results (Q4 FY19-20) - YoY Comparison
The company has reported net sales of Rs.1345 crores during the period ended March 31, 2020 as compared to Rs.1168.6 crores during the period ended March 31, 2019.
The company has posted net loss of Rs.(29.4) crores for the period ended March 31, 2020 as against net profit of Rs.26 crores for the period ended March 31, 2019.
The company has reported EPS of Rs.(17.2) for the period ended March 31, 2020 as compared to Rs.15.2 for the period ended March 31, 2019.
| Financials | Q4 FY19-20 | Q4 FY18-19 | % Change |
| Total Income | ₹ 1345 crs | ₹ 1168.6 crs |  15.09% |
| Net Profit | ₹ (29.4) crs | ₹ 26 crs | -213.08% |
| EPS | ₹ (17.2) | ₹ 15.2 | -213.16% |
Financial Results (Year ended FY 2019-20) - YoY Comparison
The company has reported net sales of Rs.5231.6 crores during the 12 months period ended March 31, 2020 as compared to Rs.4465.7 crores during the 12 months period ended March 31, 2019.
The company has posted net profit of Rs.35 crores for the 12 months period ended March 31, 2020 as against Rs.98 crores for the 12 months period ended March 31, 2019.
The company has reported EPS of Rs.20.5 for the 12 months period ended March 31, 2020 as compared to Rs.57.3 for the 12 months period ended March 31, 2019.
| Financials | FY2019-20 | FY2018-19 | % Change |
| Total Income | ₹ 5231.6 crs | ₹ 4465.7 crs | 17.15% |
| Net Profit | ₹ 35 crs | ₹ 98 crs | -64.29% |
| EPS | ₹ 20.5 | ₹57.3 | -64.22% |
Highlights of Q4FY20 performance:
1. Revenue grew by 17% YoY. Our total employee / trainee headcount increased by ~4000 on YoY basis and as at March 31, 2020 was ~220,000 compared to ~216,000 on March 31, 2019.
2. Average realization per associate in general staffing has improved to Rs.748 p.m. in Q4FY20 from Rs.714 p.m. in Q4FY19.
3. We have continued to maintain our funding exposure at 14% in general staffing business over the last 24 months.
4. TL.com, the technology enabler of hiring in the Staffing business, went live during FY20 and contributed to 20% of the total hiring in the Staffing business for the quarter. Hiring from TL.com is expected to grow to 40% by end of FY21.
5. The Company has created an additional provision across P&L's of Rs. 6.2 cr out of abundant caution on account of the current situation.
6. FY20 Profit after Tax includes one-time non-cash charge i.e. Minimum Alternate Tax credit of ? 49.6 crores on account of the Company adopting and moving to the new tax regime.
Mr. Ashok Reddy, Managing Director, TeamLease Services Limited commenting on the quarterly results said, "We are currently going through unprecedented times and have thus far managed the situation reasonably well, whether be it in terms of connect with our clients, employees and other stakeholders. We are optimistic at the prospects of growth reviving and do believe that the formal staffing industry would stand to gain from the economy opening up and simplification of labour laws. We also believe that some of the businesses we have acquired like SchoolGuru and Avantis would be able to capitalize on the opportunities arising out of the current situation. We have utilized the lockdown period to be more efficient, the results of which should flow into the future."
Shares of TeamLease Services Ltd was last trading in BSE at Rs.1720 as compared to the previous close of Rs. 1754.05. The total number of shares traded during the day was 1036 in over 264 trades.
The stock hit an intraday high of Rs. 1764.35 and intraday low of 1720. The net turnover during the day was Rs. 1809114.
