TeamLease Services one of India’s top staffing firms, reported a 12% rise in second-quarter profit on Wednesday, driven by strong demand in its mainstay general and specialised staffing divisions.
Consolidated net profit rose to 275.2 million rupees ($3.13 million) for the three months ended September 30, from 245.8 million rupees a year earlier.
Revenue from the general staffing business - which contributes more than 90% to the total - rose 6.7%. The division provides contractual roles across non-IT sectors, including manufacturing, retail and telecom.
This lifted total revenue by 8.4% to 30.32 billion rupees.
Revenue from the specialised staffing division - its second-largest vertical - rose 34.3%, driven by robust demand from global capability centres (GCCs), which offer software, finance, and R&D support to their global parent firms.
India’s top drugmaker Sun Pharma beats profit view on strong domestic demand
“GCC focused approach in specialised staffing with diversified product offerings had helped with growth momentum in both revenues and profits,” Managing Director Ashok Reddy said in a statement.
“While BFSI headwinds in general staffing persist, contribution from retail, e-comm, consumer and telecom verticals are promising,” Reddy said.
Last week, peer Quess Corp clocked a 2% growth in quarterly profit.
Comments
Comments are closed for this article.