Manufacturing, services log 8.27 per cent attrition in Q3: Report
With a continuance of the 'Great Churn', attrition across industries witnessed a 0.46 percentage point increase from an average of 7.81 per cent in the second quarter to 8.27 per cent in the third quarter, according to TeamLease "Employment Outlook Report".
TeamLease Services Ltd - 539658 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
TeamLease-Earning Calls Transcript-Q3''FY23 TeamLease Services Ltd - 539658 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
TeamLease-Earning Calls Recording link-Q3''FY23 Teamlease Services expects profits to remain flat in coming quarters
Despite the challenging market environment, the staffing company is confident of maintaining its revenue growth momentum owing to the nature of the business Q3FY23 Quarterly Result Announced for TeamLease Services Ltd.
Commercial services firm TeamLease Services announced Q3FY23 results: Q3FY23: At the group level, revenue grew over 26% on a YoY basis & 3% QoQ. We have noticed weaker festive demand in Q3FY23 compared to Q2FY22 and prior periods. General Staffing: We have added net ~3k headcount in Q3FY23 with growth of 1% on QoQ basis and 13% on YoY basis. Revenue up 3% QoQ and 27% on YoY basis. While headcount grew in October-November, higher attrition in December led to only 3k net growth. Degree Apprenticeship (NETAP): NEEM program has been discontinued effective December 23, 2022, wherein we had to release 19k trainees who were under the short-term training program. We have exposure of another 26k trainees under NEEM program who shall be migrated in dialogue with the customers. IT Staffing: headcount is up by ~2% on QoQ basis on account of addition in professional staffing. Revenue is flat as compared on QoQ basis and up 4% YoY. Furloughs and lower billing days in Q3 impacted the profits. HR Services: Delay in university billings led to lower EdTech profitability in Q3FY23 compared to Q2FY23. We continue to maintain staffing funding exposure at 13% and overall DSO at 18 days. PAPM has mostly remained flat and FTE productivity excluding NEEM impact has improved to 365 as of Q3FY23. Mr. Ashok Reddy, Managing Director, TeamLease Services Limited commenting on the quarterly results said, “Weak festive demand in general staffing and headwinds in specialized staffing impacted our growth rates this quarter both on QoQ and YoY basis. We have started working on alternative placement of apprentices under NEEM program. Margins will be under pressure for the coming quarters given the soft demand, realization pressure, NEEM impact. Core employee headcount has been reduced by 9% on account of digitization and tighter cost control.” Result PDF
TeamLease Q3 profit dips 5% YoY, board to consider share buyback next week
The company's revenue grew 14% YoY to Rs 2,108 cr in the quarter ended December, from Rs 1,767 crore a year ago. EBITDA fell 16% to Rs 32 crore in Q3 TeamLease Services Ltd - 539658 - Announcement under Regulation 30 (LODR)-Investor Presentation
TeamLease: Investor Presentation on Q3FY23 Results TeamLease Services Ltd - 539658 - Closure of Trading Window
TeamLease: Closure of the Trading Window to consider and approve Buyback of Equity Shares of the Company from January 30, 2023 to February 07, 2023 (both days inclusive). TeamLease Services Ltd - 539658 - Board Meeting Intimation for Teamlease: Board Meeting For Buyback Of Equity Shares Of The Company And Closure Of The Trading Window
Teamlease Services Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 03/02/2023 ,inter alia, to consider and approve TeamLease: Board Meeting for Buyback of Equity Shares of the Company and Closure of the Trading Window TeamLease Services Ltd - 539658 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
TeamLease: Press Release on Q3FY23 Results