Teamlease stock up 5% as Q4 earnings point to recovery

MUMBAI: Shares of temporary staffing company Teamlease Services Ltd rose more than 5% in early deals on Thursday on the National Stock Exchange. Investors were impressed by the company’s March quarter performance. The stock had hit a new 52-week high of Rs4,097 apiece on 9 June following the earnings announcement.

Its key business vertical–general staffing–saw a sequential improvement of 5% in revenues and surpassed pre-covid levels. The general staffing core to associate ratio also improved from 334 to 352. In a post-earnings conference call, the company’s management said the addition of 9,086 trainees in NETAP led overall volumes to increase 7.9% on a quarter-on-quarter basis.