India’s Teamlease Services missed the profit view of the third quarter as a consolidation

On January 29th (Reuters) -Teamlease Services in India said that the third quarter of Wednesday’s profit fell by 8.3 % in the third quarter of Wednesday, which was lower than street expectations, which was delayed due to the increase in expenditure.

As of the three months of December 31, the net profit of the personnel equipped with service providers fell from 310 million rupees a year ago to 284.3 million rupees (US $ 3.29 million).

According to data compiled by LSEG, analysts have an average expected profit of 3.115 billion rupees.

As a result, its stock fell 2 %.

The cost of employees of Teamlease increased by 19 %, and the subcontracting expenditure increased by 34 %, increasing the total cost by 19.7 % to 29.03 billion rupees.

Analysts said that in the third quarter, artificial companies were harmed in the banking industry, financial services and insurance (BFSI) and consumer packaging, and the recruitment was postponed due to the festival season.

The income of the general personnel of Teamlease (contributing more than 90 %) increased by 20 %.

Small professionals, including IT personnel equipped with services, have decreased by 7 %.

Its total revenue increased by 19.5 % to 29.21 billion rupees, which was higher than the average expectations of analysts 28.67 billion rupees.

TeamLease’s managing director Ashok Reddy said: “… we plan to expand the sales business equipped by IT personnel in Singapore and the Middle East. Due to the recent regulations released by Indian Reserve (Indian Reserve Bank), BFSI’s anti -wind may continue to be equipped with personnel.” In the statement.

Passm Corp is expected to release results later that day. ($ 1 = 86.5225 Indian rupee) (Aleef Jahan reported in Bangalore; Mrigank Dhaniwala edit)