TeamLease Services Limited (NSE: TEAMLEASE, BSE: 539658), one of India's largest staffing companies, today announced its results for the second quarter (Q2FY20) of the financial year ending March 31, 2020.
Highlights of H1FY20/ Q2FY20 performance:
1. While core staffing business maintained 20% revenue growth YoY, our planned revenue reduction in Govt. training business has overall impacted the topline growth.
2. Staffing EBITDA margin improved to 1.9% in H1FY20 compared to 1.8% in H1FY19.
3. Profit before Tax improved by 12% QoQ compared to Q1FY20 on account of collections in HR services and Govt. training businesses.
4. Our total employee/ trainee headcount is ~225,000 as of September 30, 2019. General staffing associate employee headcount has grown to ~165,030 and NETAP trainee headcount has declined to ~51,340 as of September 30, 2019.
5. Average realization per associate in general staffing has improved to Rs.739 p.m. in Q2FY20 from Rs.730 p.m. in Q1FY20.
6. We have maintained our funding exposure at 14% in general staffing business over the last one year.
Mr. Ashok Reddy, Managing Director, TeamLease Services Limited commenting on the quarterly results said, "General staffing has maintained the momentum on steady headcount growth and has visibility to sustain growth going forward. NETAP faced headwinds in the sectoral play with trainees in manufacturing/auto sector being impacted. HR services cluster has shown improved collections and profitability".
Shares of TeamLease Services Ltd was last trading in BSE at Rs.2800 as compared to the previous close of Rs. 2876.4. The total number of shares traded during the day was 6765 in over 437 trades.
The stock hit an intraday high of Rs. 2884.65 and intraday low of 2742. The net turnover during the day was Rs. 19207834.