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TeamLease Services
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
Intent to hire freshers in the first half of this year has improved by 6 per cent compared to the same period a year ago, as employers' confidence grows in the country, a report said on Tuesday. There is an increase of 6 per cent for the first half of 2024 compared to H1 of 2023 for freshers' hiring in India, TeamLease EdTech's Career Outlook Report HY1 (January-June) report said. "Employers played the conservative card for some time now and hiring had slowed down amidst global turmoil. However, our recent report reveals employer confidence in India's growth story. "Organisations are more confident about their future paths, which reflects in their high confidence to recruit fresh talent and strengthen their talent pool," TeamLease EdTech founder and CEO Shantanu Rooj said. The TeamLease EdTech's Career Outlook Report HY1 (January-June) report is based on a survey among 377 freshers and 149 employers conducted during July-September 2023. The report further revealed that the top thr
Salary level in certain sectors are expected to be restored to the pre-pandemic mark by the end of this financial year aided by the recovery in economic activities, according to TeamLease HRTech CEO Sumit Sabharwal said. Hit by the pandemic, organisations across sectors resorted to pay cuts and layoffs to reduce their labour costs, Sabharwal told PTI. "After analysis of data from our client base, we found that the workers in the formal sector witnessed a 3.6 per cent wage cut while informal workers experienced a much sharper fall at 22.6 per cent. The pandemic has shown us the importance of the format sector in the economy," he noted. He said, as normalcy returned and the economy gradually recovered companies began giving increments that helped in narrowing the salary gap to the 2019 level. However, there is still a little gap of around 7-14 per cent from the 2019 wage level in certain sectors. "We expect the recovery to reach the 2019 level by the end of this financial year," he .