TeamLease Services Ltd reports highest ever quarterly net addition of associates

TeamLease Services Limited (NSE: TEAMLEASE, BSE: 539658), one of India's largest staffing companies, has announced 28% YoY increase and 9% QoQ increase in General Staffing headcount with highest ever quarterly net addition of 14K associates. Revenue up 34% YoY and 10% on QoQ basis. Core to Associate ratio is highest since IPO at 365.

IT Staffing: headcount up by 21% on YoY basis and 11% on QoQ basis. Revenue up 36% YoY and 17% on QoQ basis with a net addition of 900 associates in Q2FY22.

Degree Apprenticeship (NETAP): headcount up by 59% on YoY basis and 18% on QoQ basis with highest ever quarterly net addition of 10K apprentices.

204 new logos added during Q2FY22 with largest contribution from IT, Auto, Manufacturing, Ecommerce, Telecom and Consumer verticals.Mr. Ashok Reddy, Managing Director, TeamLease Services Limited commenting on the quarterly results said, "Our investments across sales, marketing, structure and talent have helped deliver strong headcount growth in volume businesses and build good pipeline for the year. HR Services, with major contribution from EdTech, has turned profitable. We continue our investments in digitization, hiring and talent pipeline for long term growth and sustenance."

Shares of Teamlease Services Limited was last trading in BSE at Rs. 4242.65 as compared to the previous close of Rs. 4330.00. The total number of shares traded during the day was 567 in over 280 trades.

The stock hit an intraday high of Rs. 4382.35 and intraday low of 4215.00. The net turnover during the day was Rs. 2441300.00.

Source : Equity Bulls

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