TeamLease Services hits new high post Q4 results

Q4FY21 revenue has grown 5% sequentially qoq and remained flat compared to Q4FY20.

Jun 09, 2021 03:06 IST India Infoline News Service

TeamLease Services Limited, one of India’s largest staffing companies, on Wednesday has announced its results for the fourth quarter (Q4FY21) and for the financial year ended 31st March, 2021.

Highlights of Q4FY21/12mFY21 performance:
  • Billable headcount has gone up by 8% qoq and 4% yoy. General Staffing is back to pre-Covid levels of headcount and has surpassed pre-Covid revenue run rate.
  • Q4FY21 revenue has grown 5% sequentially qoq and remained flat compared to Q4FY20.
  • Q4FY21 PBT has grown 3% sequentially qoq and has grown 13% compared to Q4FY20.
  • Staffing FTE productivity has improved to 352 as of March 31, 2021, from 334 in Q3FY21 and 264 in Q4FY20.
  • Specialized staffing continues to improve on profitability driven by cost optimization and product mix. HR services has grown 33% in revenues qoq.
  • Our cash conversion ratio to PBT has further improved significantly to over 300% out of which 156% is contributed by tax refunds and balance 187% contributed by efficient working capital management. Free cash available with the Company stood at Rs250cr as of March 31, 2021.
Ashok Reddy, Managing Director, TeamLease Services Limited commenting on the quarterly results said, “All of our businesses have surpassed pre-Covid levels with strong headcount growth in Q3 and Q4. This pandemic has given us an opportunity to strengthen our digitalization strategy and accelerate client partnership initiatives on productivity enhancement. While the 2nd wave of Covid can marginally impact growth in the current quarter, we continue to play to the market opportunities in the long run.”

The company hits new high at Rs4,064.95 per piece on Wednesday early trading session.

At around 3:00 PM, Team Lease Services was trading at Rs3,697.90 apiece up by Rs242.45 or 7.02% on Sensex.

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