TeamLease Services Q2 Net Profit Down 10.12% to Rs 24.85 Crore

Mumbai, Nov 5 (PTI) Staffing company TeamLease Services on Wednesday reported a 10.12 per cent decline in consolidated net profit to Rs 24.85 crore for the quarter ending September 2024.

The company's net profit stood at Rs 27.65 crore during the corresponding period of the previous financial year, TeamLease Services said in a regulatory filing.

Its revenue from operations rose 23 per cent to Rs 2,796.83 crore in the quarter under review compared to Rs 2,272.60 crore a year ago.

"We have crossed 3.5 lakh billable headcount in our employment cluster owing to strong growth across sectors. Profit expansion is the key focus area this year, and we are confident of maintaining strong double-digit growth in the sequential profits.

"Our planned investments in Hiretech and Hrtech solutions, through organic and inorganic routes, will give us enhanced capabilities in the coming quarters," TeamLease Services Managing Director Ashok Reddy said.

The company's shares on Wednesday closed at Rs 2,841.35, up 5.36 per cent on BSE.