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)
|PBT (after exceptional)||32||28||15%||(48)||60||(21)|
|PAT / (Loss)||32||27||19%||(49)||58||(22)|
|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.