Q2FY23 Quarterly Result Announced for TeamLease Services Ltd.
Commercial service firm TeamLease Services announced Q2FY23 results: Q2FY23: At the group level, revenue grew over 29% on a YoY basis & 4% QoQ. PBT improved from Rs 27crore in Q2FY22 to Rs 32crore in Q2FY23. EBITDA margins have improved on QoQ basis. General Staffing: We have added a net ~5k headcount in Q2FY23 with a growth of 2% on a QoQ basis and 22% on a YoY basis. Revenue is up 5% QoQ and 31% on a YoY basis. Degree Apprenticeship (NETAP): headcount is up by ~3k in Q2FY23. Headcount grew by 4% on a QoQ basis. IT Staffing: headcount is down by 9% on a QoQ basis. Revenue is down 3% on a QoQ basis and up 5% YoY. We continue to maintain staffing funding exposure at 13% and overall DSO improved to 17days. PAPM has remained flat on a QoQ basis and FTE productivity has marginally improved from Q1FY23 to Q2FY23. Skills businesses have been reclassified from operating segment to non-operating segment because of which unallocated EBITDA is impacted by Rs 4crore. Mr. Ashok Reddy, Managing Director, TeamLease Services Limited commenting on the quarterly results said, “We had a net headcount growth of ~6.5k for the quarter and ~16k for the half-year. Headwinds in IT industry have started impacting the specialized staffing growth and may continue for a while. Our HRtech business is gearing up on new sales, product enhancement and digital solutions. Revenue growth and tighter cost control will be the focus areas for the next few quarters. “ Result PDF09-11-2022
