India's TeamLease posts 31% quarterly profit rise on GCC hiring

India’s TeamLease Services reported a 31.4% rise in first-quarter net profit on Wednesday, led by growth in its specialised staffing business, which provides IT and telecom staffing services primarily to Global Capability Centres (GCCs).

The staffing services provider’s consolidated net profit rose to 348.7 million rupees ($3.65 million) for the quarter ended June 30, from 265.4 million rupees a year ago.

Revenue from operations rose 5.8% to 30.35 billion rupees.

TeamLease said it now serves more than 120 GCC clients across the life sciences, telecom, consulting, engineering, consumer and IT verticals, up from over 110 at the end of financial year 2026.

The company said it added 127 new enterprise clients across all its business segments during the quarter. Net free cash flow stood at 3.5 billion rupees as of the quarter-end.

“While the overall hiring trends are softer in general staffing, our new logo addition and hiring productivity are on an upward trajectory,” CEO Suparna Mitra said.

CFO Ramani Dathi, in an interview in May, told Reuters that firms across sectors are slowing hiring and reassessing headcount needs as they experiment with AI-led automation, even as India remains a key global hiring market for multinational companies and global capability centres.

Indian companies are increasingly turning to contract and outsourced hiring. “Firms that cut staff (numbers) by 50% after adopting AI tools were coming back within months, saying they still needed people to manage them,” Dathi said.