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Team Lease Services Results: Latest Quarterly Results & Analysis

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TeamLease Services Ltd. 05 Nov 2025 15:53 PM
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Q2FY26 Quarterly Result Announced for TeamLease Services Ltd.

Commercial Services company TeamLease Services announced Q2FY26 results

  • Operating Revenue: Rs 3,032 crore compared to Rs 2,797 crore during Q2FY25, change 8%.
  • EBITDA: Rs 38 crore compared to Rs 33 crore during Q2FY25, change 15%.
  • EBITDA Margin: 1.3% for Q2FY26.
  • PBT: Rs 29 crore compared to Rs 26 crore during Q2FY25, change 12%.
  • PAT: Rs 28 crore compared to Rs 25 crore during Q2FY25, change 12%.
  • PAT Margin: 0.9% for Q2FY26.
  • EPS: Rs 16 for Q2FY26.

Ashok Reddy, Managing Director, TeamLease Services, said: “We had an overall decent quarter with 11k net adds and 24% QoQ growth in EBITDA. GCC focused approach in Specialised staffing with diversified product offerings had helped with growth momentum in both revenues and profits. While BFSI headwinds in general staffing persists, contribution from retail, e-comm, consumer and telecom verticals are promising. We are confident of expanding the overall EBITDA for the year with continued focus on growth and operating leverage.”

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Commercial Services company TeamLease Services announced Q1FY26 results

  • Total Revenue: Rs 2,904 crore compared to Rs 2,594 crore during Q1FY25, change 12%.
  • EBITDA: Rs 31 crore compared to Rs 22 crore during Q1FY25, change 39.1%.
  • EBITDA Margin: 1.1% for Q1FY26.
  • PBT: Rs 26 crore compared to Rs 20 crore during Q1FY25, change 30.1%.
  • PAT: Rs 25 crore compared to Rs 19 crore during Q1FY25, change 29.2%.
  • PAT Margin: 0.9% for Q1FY26.
  • EPS: Rs 16 for Q1FY26.

Ashok Reddy, Managing Director, TeamLease Services, said: “Despite persistent macro-economic headwinds affecting the BFSI and IT services verticals, we have delivered notable EBITDA growth on a YoY basis. Resilient demand from enterprise clients and tech profiles in Non-tech companies and Global Capability Centers, have helped sustain the growth momentum. With a sharp focus on operational efficiency, diversified service mix and financial discipline, we are gearing up for a steady profit expansion trajectory for the remainder of the fiscal year and delivering value to all stakeholders across business cycles.”

Result PDF

Commercial Services company TeamLease Services announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • At the group level, net impact of ~7k headcount on account of scheduled BFSI headcount attrition. As a result, revenue declined by 2% QoQ but overall maintained 20% topline growth for the year.
  • EBITDA grew by 37% QoQ, backed by catch up billing in Edtech and inorganic contribution.
  • Net cash stands at Rs 472 crore, including free cash of Rs 310 crore.
  • Revenue stood at Rs 2,868 crore vs Rs 2,441 crore in Q4FY24 — up 17% YoY
  • PAT stood at Rs 38 crore vs Rs 28 crore — up 35% YoY
  • EPS stood at Rs 21 vs Rs 16 — up 31% YoY

FY25 Financial Highlights:

  • Revenue stood at Rs 11,201 crore vs Rs 9,368 crore in FY24 — up 20% YoY
  • EBITDA stood at Rs 138 crore vs Rs 131 crore — up 5% YoY
  • EBITDA Margin at 1.2% vs 1.4% — down 20 bps YoY
  • PAT stood at Rs 110 crore vs Rs 113 crore — down 2% YoY
  • EPS stood at Rs 65 vs Rs 67 — down 3% YoY

Ashok Reddy, Managing Director, TeamLease Services commenting on the quarterly results said, "We closed FY25 with a mixed performance across our business segments. In Staffing, we added approximately 25,000 associates inspite of the headwinds in H2 of FY25 from certain sectors. In IT Services, we made notable gains in operating efficiency and improved our Global Capability Center (GCC) mix. Strategically, we made significant strides to strengthen our service offerings and geographic reach. The acquisition of Ikigai Enablers will bolster our IT staffing footprint in Singapore and the Middle East. Additionally, the integration of TSR Darashaw and Crystal HR positions us to scale our HRTech capabilities more effectively."

Result PDF

Commercial Services company TeamLease Services announced Q3FY25 results

  • Total Revenue: Rs 2,931 crore compared to Rs 2,455 crore during Q3FY24, change 19%.
  • EBITDA: Rs 35 crore compared to Rs 36 crore during Q3FY24, change -3%.
  • EBITDA margin: 1.2% for Q3FY25.
  • PBT: Rs 29 crore compared to Rs 29 crore during Q3FY24.
  • PBT margin: 1% for Q3FY25.
  • PAT: Rs 28 crore compared to Rs 31 crore during Q3FY24, change -9%.
  • PAT margin: 1% for Q3FY25.
  • EPS: Rs 17 for Q3FY25.

Ashok Reddy, Managing Director, TeamLease Services, said: “Using our delivery capabilities and existing capacity in India, we are planning to expand sales operations of IT staffing in Singapore and Middle East. Headwinds in BFSI may continue for Staffing business on account of recent regulations issued by RBI. We are poised to drive synergies in HR Tech business by integrating our acquisition of TSR Darashaw HR Services and Crystal HR.”

Result PDF

Commercial Services company TeamLease Services announced Q2FY25 results

Financial Highlights:

  • Total Revenue: Rs 2,808 crore compared to 2,286 crore during Q2FY24, a change of 23% Yoy.
  • Operating Revenue: Rs 2,797 crore compared to 2,273 crore during Q2FY24, a change of 23% YoY.
  • EBITDA: Rs 33 crore compared to Rs 32 crore during Q2FY24, a change of 5% YoY.
  • EBITDA margin: 1.2% for Q2FY25.
  • PBT: Rs 26 crore compared to Rs 29 crore during Q2FY24, change -12%.
  • PBT margin: 0.9% for Q2FY25.
  • Profit after Tax:  Rs 25 crore compared to Rs 28 crore during Q2FY24, change -10%.
  • PAT margin: 0.9% for Q2FY25.
  • EPS: Rs 15 for Q2FY25.

Other Highlights:

  • At the group level, the company added ~18k headcount during the quarter largely led by BFSI and Consumer. Revenue grew by 8% QoQ and 23% YoY.
  • EBITDA recovery is backed by operating leverage in Staffing business and growth in EdTech billing.
  • 178 new logos were added during the quarter.
  • Net cash stands at Rs 555 crore, including free cash of Rs 340 crore.
  • The company is investing in a HireTech platform which is expected to go live in FY26. The platform aims to bring down the hiring costs significantly in a phased manner.

Ashok Reddy, Managing Director, TeamLease Services, said: “We have crossed 3.5 lakh billable headcount in our Employment cluster owing to strong growth across sectors.  Profit expansion is the key focus area this year, and we are confident of maintaining strong double-digit growth in the sequential profits. Our planned investments in Hiretech and Hrtech solutions, through organic and inorganic routes, will give us enhanced capabilities in the coming quarters. ”

Result PDF

Commercial Services company TeamLease Services announced Q1FY25 results:

  • At the group level, we added ~12,700 headcount during the quarter including the loss of ~6000 NEEM trainees. Revenue grew by 6% QoQ and 19% YoY.
  • EBITDA decline is because of the seasonality and delayed university billing in EdTech business and annual appraisal of core employees.
  • 187 new logos were added during the quarter.
  • We have received an Income Tax refund for AY 2023-24, amounting to Rs 115cr including interest of Rs 6.5 crore in Q1FY25.
  • Net cash stands at Rs.439 crore, including free cash of Rs.320 crore.
  • General Staffing:
    • Added net ~15,500 headcount in Q1FY25 taking the total billable headcount to ~2.82 lakhs.
    • Staffing revenue grew by 8% on QoQ backed by headcount growth across sectors.
    • Degree Apprenticeship (DA):
  • Net growth in trainee headcount, excluding the attrition of last lot of NEEM trainee loss of ~6,000 in Q1FY25. Growth is driven by NAPS (National Apprenticeship Promotion Scheme) and WILP (Work Integrated Learning Program).
  • Specialized Staffing:
    • Headwinds in the IT industry continue to impact on the growth in specialized staffing. While there has been consistent growth in GCC clients, net headcount loss with IT services clients was noted in Q1FY25. 

Ashok Reddy, Managing Director, TeamLease Services Limited commenting on the quarterly results said, “The recent union budget with the proposed initiatives around employment and employability is a welcome enabler for our long-term objective of Putting India to Work. Coupled with the implementation of Labour Codes, we believe these initiatives will drive up formalisation and productivity of the workforce in the coming years. On the business front, Staffing has been maintaining a healthy volume growth consistently across quarters and across diversified portfolio of clients. With NEEM impact fully addressed, DA will become a contributor on profit growth and margin expansion. While the billing cycle in EdTech business has impacted the Q1 profitability, with the current signup of universities and students, we are confident of posting as substantial growth in both revenues and profitability of EdTech business this year.”

Result PDF

Commercial Services company TeamLease Services announced Q4FY24 results:

  • At the group level, we added ~10,000 headcount during the quarter. Revenue declined by 1% QoQ and EBITDA grew by 2%.
  • 110 new logos were added during the quarter.
  • Net cash stands at Rs 345 crore, including free cash of Rs 265 crore. Outstanding Income Tax receivable is Rs 264 crore.
  • General Staffing:
    • Added net ~44,000k headcount in FY24 taking the total billable headcount to ~2.67 lakhs.
    • Staffing revenue is flat on QoQ largely because of festive billings in Q3FY24.
  • Degree Apprenticeship (DA):
    • Trainee headcount growth is positive, net of NEEM loss, for the current quarter driven by NAPS (National Apprenticeship Promotion Scheme) and WILP (Work Integrated Learning Program).
    • We expect the balance of NEEM trainees (~6k) to fully attrite by Q1FY25.
  • Specialized Staffing:
    • Headwinds in the IT industry continue to impact on the growth and profitability in specialized staffing
  • HR Services:
    • Revenue for the quarter grew by 36% and EBITDA by 41% owing to seasonality in the Edtech business.
    • On a full-year basis, revenue grew by 14% and EBITDA by 92% YoY

Ashok Reddy, Managing Director, TeamLease Services Limited commenting on the quarterly results said, “The volume growth momentum in Staffing is quite positive across FMCG, FMCD, Retail, Ecommerce, Telecom, and other emerging verticals. While we have had a slight setback on BFSI hiring for the past few months, the outlook from the second quarter of FY25 is shaping up well. DA business has now turned positive on headcount, net of exit of NEEM trainees.

We enter the year with growth momentum on revenue, but in the short run will have the business impact of salary hikes, full NEEM exit and seasonality of the EdTech business in Q1FY25 which will get adjusted in the second half of the year.”

Result PDF

Miscellaneous Commercial Services company TeamLease Services announced Q2FY24 results:

1. Financial Performance:
- TeamLease Services reported a total revenue of Rs 2,286 crore in Q2FY24, showing a growth of 5% compared to Q1FY24.
- The operating revenue for Q2FY24 stood at Rs 2,273 crore, with a QoQ growth of 5%.
- The company's EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) for Q2FY24 was Rs 32 crore, with an EBITDA margin of 1.4%.

2. Profitability:
- TeamLease recorded a profit before tax (PBT) of Rs 29 crore in Q2FY24, showing a growth of 14% compared to Q2FY23.
- The PBT margin for the same period was 1.3%.
- The company's profit after tax (PAT) margin stood at 1.2% in Q2FY24.

3. Market Presence:
- TeamLease added 122 new clients during Q2FY24, expanding its market presence.
- The company's total headcount crossed 3 lakhs, indicating a strong positioning in the staffing industry.
- TeamLease's specialized staffing division sustained revenues and profits despite headwinds in the IT industry.

4. General Staffing:
- TeamLease added approximately 28,000 net headcount in the general staffing division in H1FY24, taking the total billable headcount to around 2.51 lakhs.
- The staffing revenue grew by 5% QoQ and 20% YoY, driven by the BFSI (Banking, Financial Services, and Insurance) and Consumer verticals.

5. Degree Apprenticeship:
- The trainee headcount for the Degree Apprenticeship division showed net positive growth in the months of August and September 2023, driven by the National Apprenticeship Promotion Scheme and Work Integrated Learning Program.
- TeamLease expects the attrition of NEEM (National Employability Enhancement Mission) trainees to be completed by Q4FY24.

6. HR Services:
- The HR Services division of TeamLease witnessed a revenue growth of 27% QoQ and 20% YoY.
- The company introduced Digivarsity, a Multi-Employer, Multi University platform, in the Edtech segment to help students make informed career decisions.

Ashok Reddy, Managing Director, TeamLease Services commenting on the quarterly results said, “Staffing outlook has been positive on the back of strong hiring trends across all non-IT industry verticals. We have added over 28,000 net headcounts in Staffing in the first half of the year, aided by festive demand in Q2. Measures taken toward cost optimization, hiring, and sales restructuring helped us accelerate revenues and profitability. With strong leadership teams built across all business units, we are confident of maintaining growth momentum into the future. Uncertainty in IT staffing outlook continues.”

 

Result PDF

Miscellaneous Commercial Services company TeamLease Services announced Q1FY24 results:

  • Q1FY24 vs Q1FY23:
    • Headcount: 2,87,820 vs 2,94,907, down 2% YoY
    • Total Revenue: Rs 2,186 crore vs Rs 1,892 crore, up 16% YoY
    • Operating Revenue: Rs 2,172 crore vs Rs 1,879 crore, up 16% YoY
    • EBITDA: Rs 26 crore vs Rs 25 crore, up 4% YoY
    • EBITDA Margin: 1.2% vs 1.3% 
    • PBT: Rs 26 crore vs Rs 28 crore, down 7% YoY
    • PBT Margin: 1.2% vs 1.5%
    • PAT: Rs 26 crore vs Rs 27 crore, down 3% YoY
    • PAT Margin: 1.2% vs 1.4%
  • At the group level, revenue grew 7% QoQ and 16% YoY. The drop in sequential EBITDA is on account of NEEM headcount loss, seasonality in Edtech, and core employee annual hikes.
  • We have added net ~13k headcount in Q1FY24 taking the total billable headcount to ~2.37 lakhs. Staffing revenue grew 8% QoQ and 18% YoY.
  • Trainee headcount dropped by ~8k in Q1FY24 on account of the discontinuance of the NEEM program. We expect balance trainees to attrite by Q3FY24.
  • Despite headwinds in the IT industry, we have sustained revenues and profits with a diversified portfolio of captives and services companies.
  • Seasonality in the EdTech business has impacted the revenues and profits of the segment for Q1FY24.
  • During Q1FY24, we received an income tax refund of Rs 36 crore including Rs 6 crore of interest. Outstanding income tax refund is Rs 230 crore and cash balance is Rs 311 crore as of Q1FY24.

Ashok Reddy, Managing Director, TeamLease Services commenting on the quarterly results said, “With our improved sales and hiring capabilities, general staffing business is on a strong growth trajectory driven by headcount addition on both new and existing clients. We expect DA business to turn net positive on headcount movement by the end of Q2 and continue the growth momentum thereon. Margin pressure continues on account of reduced contribution from Specialized staffing and DA business, coupled with PAPM pressure in Staffing”

 

 

Result PDF

Commercial Services company TeamLease Services announced Q4FY23 results:

  • At the group level, revenue grew over 22% on a YoY basis & 1% QoQ.
  • General Staffing: We have added net ~8k headcount in Q4FY23 with net headcount addition of 29k with 15% YoY growth. Revenue up 23% on YoY basis and 1% QoQ.
  • Degree Apprenticeship (DA): Headcount dropped by 9k on account of discontinuance of the NEEM program. Including the impact of Q3 headcount, net revenue drops by Rs 5 crore in Q4FY23.
  • Specialised Staffing: Headcount is down by ~600 in Q4FY23 owing to headwinds in the IT Industry. We have taken up cost control measures in both Specialised staffing and DA.
  • HR Services: Revenue is up by 16% QoQ contributed by catchup of deferred billing in the University P&L. Annual revenue growth of EdTech vertical stood at 18% and RegTech at 51%. 

Mr. Ashok Reddy, Managing Director, TeamLease Services Limited commenting on the quarterly results said, “General staffing business has witnessed uniform growth across industry verticals with a strong outlook for upcoming quarters. Margins have come under pressure due to external variables impacting the higher margin businesses of Specialized staffing and DA.

“Ritu will be stepping down from her executive role and transitioning to a non-executive Board member. This transition, after having built TeamLease for 20 years will give her the space to pursue a different set of challenges in the years ahead. She leaves TeamLease as a far larger, stronger organization and we will always be grateful for her contribution & commitment to TeamLease and to our Cause of "Putting India to Work". Thank you Ritu for the many years of work, passion, and commitment and for building TeamLease to where we are today.”

 

Result PDF

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