TeamLease Services Q3 PAT down 9 pc at Rs 23.1 crore

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Mumbai, Jan 28 (PTI) Human resource company TeamLease Services on Thursday reported 9 per cent decline in profit after tax for the third quarter of 2020-21 at Rs 23.1 crore compared to the same period of the previous financial year.

The company's profit after tax (PAT) stood at Rs 25.5 crore during the corresponding quarter of 2019-20, TeamLease Services said in a statement.

The total revenue from operations dipped by 5 per cent during the quarter under review at Rs 1,285.3 crore compared to Rs 1,358.7 crore in the same period of the previous fiscal.

“Headcount and revenue growth are getting aligned to pre-COVID levels across all businesses. Free cash reserves have improved substantially on account of operating cash flows and tax refunds. We continue to drive margin expansion through operating leverage and turnaround in HR services,” TeamLease Services Managing Director Ashok Reddy added.

Shares of the company closed at Rs 2,831 per equity share, up 2.23 per cent on BSE. PTI SM ANS ANS