BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
TeamLease Services Ltd.’s operating performance was a beat on our estimates, with total revenue increasing 2.7% QoQ.
Revenue growth was led by 17%/22% QoQ growth in specialised staffing/other human resource services, offset by a 1% growth in the general staffing business.
Margin in Q1 FY22 inched up by 20 basis point QoQ to 2.1%, led by strong growth in the specialised staffing business and partial reversal in provisions in other HR services.
It reported an adjusted profit after tax of Rs 243 million, implying a profit after tax margin (in line) of 1.8%.
TeamLease management remains optimistic about a recovery in long term growth.
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