Companies

TeamLease Q4 net up 23% to Rs 26 cr

PTI New Delhi | Updated on May 29, 2019 Published on May 29, 2019

Staffing company TeamLease Services on Wednesday reported a 23 per cent rise in consolidated net profit at Rs 26 crore for the quarter ended March 2019as compared to a net profit of Rs 21.2 crore in the corresponding quarter last year, a company statement said.

During the quarter , the firm’s total revenue rose 19 per cent to Rs 1,168.6 crore from Rs 978.7 crore in the year-ago period, it said.

“Our business acquisition of eCentric is expected to give us a 40 per cent inorganic growth in the IT staffing segment and increase the client base,” TeamLease Services Managing Director Ashok Reddy said.

“The general hiring trends look positive for fiscal year 2020 and we are geared up for scale,” he added.

Shares of TeamLease Services Wednesday ended at Rs 2,986.50 on the BSE, down 2.89 per cent from its previous close.

Published on May 29, 2019
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