(Reuters) -India’s TeamLease Services reported a 27% rise in fourth-quarter profit, driven by sustained demand for its staffing services.
Consolidated net profit rose to 349.6 million rupees ($4.09 million) for the three-month period ended March 31, from 274.8 million rupees a year ago.
Recruitment across industries such as consumer and telecom helped boost TeamLease’s mainstay general staffing business.
Revenue from the general staffing business – which contributes more than 91% to the total – rose 17%, while those at its smaller specialised staffing business, which includes IT staffing, increased 8%.
Total revenue rose by 17.5% to 28.58 billion rupees.
Earlier in the week, peer Quess Corp logged a 61% growth in quarterly pre-tax profit.
TeamLease’s shares closed 3.1% higher ahead of results on Wednesday.
($1 = 85.5280 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru; Editing by Sherry Jacob-Phillips)
