Bengaluru, India, November 10, 2022- TeamLease Services Limited (NSE: TEAMLEASE, BSE: 539658), one of India’s largest staffing companies, today announced its results for the second quarter (Q2FY23) of the Financial Year ending March 31, 2023.
Summary of Consolidated Financial Results:
(all numbers in Rupees’ Crores except headcount &margins)
| Particulars | Q2FY23 | Q1FY23 | QoQ Growth % |
Q2FY22 | YoY Growth % |
H1FY23 | H1FY22 | YoY Growth % |
| Headcount | 3,01,444 | 2,94,907 | 2% | 2,51,200 | 20% | 3,01,144 | 2,51,200 | 20% |
| Total Revenue | 1,967 | 1,892 | 4% | 1,529 | 29% | 3,859 | 2,910 | 33% |
| Operating Revenue | 1,955 | 1,879 | 4% | 1,524 | 28% | 3,834 | 2,900 | 32% |
| EBITDA | 32 | 25 | 25% | 34 | -7% | 57 | 64 | -11% |
| EBITDA margin | 1.6% | 1.3% | 2.2% | 1.5% | 2.2% | |||
| PBT | 32 | 28 | 15% | 27 | 19% | 60 | 51 | 18% |
| PBT margin | 1.6% | 1.5% | 1.8% | 1.6% | 1.8% | |||
| PBT (after exceptional) | 32 | 28 | 15% | (48) | 60 | (21) | ||
| PAT / (Loss) | 32 | 27 | 19% | (49) | 58 | (22) | ||
| PAT margin | 1.6% | 1.4% | -3.2% | 1.5% | -0.8% | |||
| EPS – Rs. | 18 | 16 | -29 | 34 | -13 |
Highlights of Q2FY23:
- At the group level, revenue grew over 29% on a YoY basis &4% QoQ. PBT improved from Rs27cr in Q2FY22 to Rs.32cr in Q2FY23.EBITDA margins have improved on QoQ basis.
- General Staffing:We have added net ~5k headcount in Q2FY23 with growth of 2% on QoQ basis and 22% on YoY basis.Revenue up 5% QoQ and 31% on YoY basis.
- Degree Apprenticeship (NETAP):headcount is upby ~3k in Q2FY23. Headcount grew by 4% on a QoQbasis.
- IT Staffing: headcount is down by 9% on QoQbasis. Revenue is down 3% on QoQ basis and up 5% YoY.
- We continue to maintain staffing funding exposure at 13% and overall DSO improved to17days.
- PAPM has remained flat on a QoQ basis and FTE productivity has marginally improved from Q1FY23 to Q2FY23.
- Skills business have been reclassified from operating segment to non-operating segment because of which unallocated EBITDA is impacted by Rs.4cr.
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