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Staffing company TeamLease Services on Wednesday reported a 22.92 per cent decline in consolidated net profit at Rs 24.37 crore compared to the same period in the previous financial year.
The company's net profit stood at Rs 31.62 crores during the corresponding quarter of the previous fiscal, TeamLease Services said in a regulatory filing.
Revenue from operations of the company grew by 11.54 per cent during the quarter under review at Rs 2,027.27 crore compared to Rs 1,817.41 crore in the same period in the previous fiscal.
TeamLease Services Managing Director Ashok Reddy said the general staffing business has witnessed uniform growth across industry verticals with a strong outlook for upcoming quarters.
Margins have come under pressure due to external variables impacting the higher margin businesses of specialised staffing and DA, he stated.
Rituparna Chakraborty will be stepping down from her executive role and transitioning to a non-executive board member. This transition, after having built TeamLease for 20 years will give her the space to pursue a different set of challenges in the years ahead," Reddy added..
The company's shares on Wednesday closed at Rs 2,322.05, up 2.93 per cent on BSE.
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