India's TeamLease quarterly profit rises on hubs' demand for skilled staff

Teamlease Services

04/02/2026 10:24

BENGALURU, Feb 4 (Reuters) - Indian staffing firm TeamLease Services TLSV.NS reported a nearly 47% surge in third-quarter profit on Wednesday, driven by demand from global capability centres (GCC) for specialised staff.

Its consolidated net profit rose to 417 million rupees ($4.62 million) for the three months ended December 2025, from 284 million rupees a year earlier.

Its shares jumped as much as 11.8% after the results, and closed up 4.5% at 1,491.3 rupees.

GCCs, which are Indian hubs of international firms, require software, finance, and R&D personnel for their operations. These hubs currently employ more than 1.9 million people, according to government data, and are expanding their workforce.

The company's revenue from the specialised staffing division, its second-largest vertical, rose 32.5%, lifting total revenue by about 3% to 30.13 billion rupees.

Revenue from the general staffing business, which contributes to over 90% of the total, rose 1.2% and was impacted by insourcing by a client in the banking and financial services division, the company said. The general staffing vertical provides contractual roles across non-IT sectors, including manufacturing, retail and telecom.

"Despite general slowness in the economy, our new logo acquisition is stable, including the GCC wins...Full impact of BFSI (banking, financial services and insurance) headcount loss will be absorbed by Q1FY27," Managing Director Ashok Reddy said in a statement.

Last week, peer Quess Corp QUEC.NS reported a 32% quarterly profit growth.

Analysts previously said that staffing firms will benefit in the medium to long term from India's new labour codes, as simplified compliance norms will help reduce administration costs and could lead to more formalisation of India's workforce, leading to increased business.

TeamLease said its profit for the period was not impacted as the impact of the changes in labour codes for billable employees is recoverable from customers and doesn't impact its bottom line.

($1 = 90.2975 Indian rupees)

(Reporting by Haripriya Suresh in Bengaluru; Editing by Harikrishnan NAir)

((haripriya.suresh@thomsonreuters.com))