TeamLease Service Q1 net profit up 5.81% at Rs 23.30 cr
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The company reported standalone net profit of Rs 23.30 crore for the quarter ended June 30, 2022 as compared to Rs 22.02 crore in the same period last year, registering a year-on-year growth of 5.81 per cent. Net revenue of the company rose substantially by 30.27 per cent at Rs 1,616.31 crore in April-June quarter of this fiscal as against Rs 1,240.78 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 31.24 per cent to Rs 1,602.37 crore from Rs 1,220.95 crore in year ago period. Other Income grew by 63.91 per cent at Rs 14.08 crore versus (Jun'21 Rs 8.59 crore). Operating Profit slipped by 29.62 per cent to Rs 13.95 crore as against Rs 19.82 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 46.25 per cent in June quarter. Interest declined by 13.04 per cent y-o-y to Rs 0.60 crore, while Taxation decreased by 108.20 per cent at Rs -0.05 crore (Jun'21 Rs 0.61 crore).
