TeamLease Q2 net profit jumps 98% to Rs 17 cr

Staffing firm TeamLease Services today reported nearly two-fold rise in consolidated net profit to Rs 17.4 crore for the three months ended September 30.
Net profit stood at Rs 8.8 crore in the same quarter of previous fiscal, the company said in a release.
Total income of the firm increased to Rs 880 crore during July-September in the current fiscal from Rs 729.4 crore in the year-ago period.
"We stayed true to our core objectives of sales growth, margin expansion, cash-flows and capital frugality during the quarter," TeamLease Services MD Ashok Reddy said.
Reddy also said the firm made foray into telecom staffing through the acquisition of Evolve Technologies.

"We will continue to explore M&A opportunities in the market for building vertical capability or complementary service offerings," he added.
Shares of the firm settled the day on BSE at Rs 1,669.50 apiece, up 2.12 per cent from the previous close.