TeamLease Q1 Review – Expect A Strong Business Recovery In FY22: Motilal Oswal

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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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Motilal Oswal TeamLease Q1FY22 Result Update.pdf


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