India's Teamlease Services falls on slide in Q3 earnings

Teamlease Services

25/01/2023 09:25

** Shares of Teamlease Services  TLSV.NS  fall as much as
3.14% to 2,362 rupees, lowest in over two months since Nov. 15
    ** The human resource services provider logs decline in Q3
net profit and core profit while core profit margins contract to
1.57% from 2.14% in the same period a year earlier
    ** Weak festive demand in general staffing and headwinds in
specialised staffing impacted growth rates, says Ashok Reddy,
Managing Director of the company; adds the margins will be under
pressure in the coming quarters due to soft demand, realisation
pressure
    ** Trading volume is 12,995 shares, as of 2:49 p.m. IST,
close to the 30-day avg of 14,338 shares 
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))