TeamLease Q4 Review - Well Positioned To Gain Market Share In Staffing: Prabhudas Lilladher

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Prabhudas Lilladher Report

Teamlease Services Ltd. reported slight miss on revenue, up 5% QoQ (our estimate: 6.5% QoQ) due to impact of Covid-19 in March 2021.

Growth was led by strong general staffing and National Employability Through Apprenticeship Program trainees’ headcount, up 8% QoQ, 4% YoY surpassing pre-Covid levels.

Specialised staffing declined by 3.3% QoQ due to reduction of low margin accounts but saw strong demand for high margin mandates like artificial intelligence, machine learning, cyber security, devops in IT services.

Human resource services also grew improved sequentially but was down 34.4% YoY due to exit from permanent hiring business and government training business.

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