In Q3FY23, TeamLease Services reported net revenue of Rs 2,018 crore as against Rs 1,767 crore recorded in Q3FY22, representing a YoY growth of 14%. The company reported an EBITDA of Rs 32 crore in the third quarter of 2023 as against Rs 38 crore recorded in the same quarter of 2021, representing a YoY decline of 16%

The share purchase will be through the tender offer route and the offer price represents a premium of 25 percent over the closing price of January 24 when the board meeting for the buyback was announced

TeamLease Services, incorporated in the year 2000, is a Mid Cap company (having a market cap of Rs 4139.38 Crore) operating in Services sector.

“The other business which is a surprise to us is a degree apprenticeship business. On January 3, we received a notification that the government is withdrawing the NEEM Programme under which we have 26,000 trainees. We may have to release these apprentices in the coming quarters. As of December, we already released 20,000 trainees and so that has also impacted our quarterly performance both in terms of growth as well as profitability.”

TeamLease Services, incorporated in the year 2000, is a Mid Cap company (having a market cap of Rs 4319.50 Crore) operating in Services sector.

“As far as the Indian IT services and the product and capital companies are concerned, we have not started seeing any massive layoffs as of now but having said that, will this kind of trajectory continue into the future for the next few quarters as well? At this point in time, we have no visibility because the attrition levels are still high, especially at mid and senior level.”

ICICI Direct recommended hold rating on TeamLease with a target price of Rs 2540 in its research report dated November 10, 2022.

The Nifty Pharma index closed 0.74 per cent down at 12983.1.

In the Nifty50 index, 11 stocks closed in the green, while 39 stocks ended in the red.

The Nifty Realty index closed 0.15 per cent down at 440.9.

In the Nifty 50 index, 11 stocks ended in the green, while 39 stocks closed in the red in today's trade.

So accordingly, we are reducing our head counts and costs. For the next foreseeable future, we are not factoring in any increase in our core headcount and whatever revenue growth that we have, ideally should flow down into the bottom. So for the next few quarters we are projecting a consistent margin expansion on a QoQ basis.

In the Nifty pack, 11 stocks closed in the green, while 39 stocks ended in the red.

In the Nifty 50 index, 11 stocks were trading in the green, while 39 stocks were trading in the red.

The Nifty Auto index was trading 1.76 per cent down at 13107.25.

In the Nifty pack, 11 stocks were trading in the green, while 38 stocks were trading in the red.

In the Nifty50 index, 13 stocks were trading in the green, while 37 stocks were in the red.

The Nifty Bank index was trading 0.66 per cent down at 41505.55.

The Nifty Pharma index was trading 0.62 per cent up at 13161.15.

The Nifty Realty index was trading 0.06 per cent down at 441.3.

Industry conferences and company retreats are now scheduled more regularly with COVID-induced restrictions removed, and organisations have started their corporate travel schedules in full flow, say travel firms and hoteliers

“The moonlighting debate has been around for decades. It will be around for a few more decades and people and organisations will choose the side that works best for them. Just make your choices and live with them. People in the middle of the road get hit by trucks from both sides.”

An increasing number of employers are focusing on hiring candidates who have some prior work experience and apprenticeships is playing a crucial role in bridging this gap, according to a study by TeamLease Degree Apprenticeship and JustJobs Network. The study states that doubling the number of apprentices from 500,000 to 10,00,000 per year, and setting an initial target of 10 million apprentices in ten years, is a crucial step in bridging the skill gap.

Businesses across sectors in India, including manufacturing, construction, real estate, infrastructure, logistics, retail, automobile and auto component, restaurants, and facility management, among others, are facing an average 15-30% dearth of skilled manpower, said top company executives, staffing firms and industry experts. Company executives said this could have a direct impact on meeting business goals. At the same time, there is an increase in cost of talent acquisition, as companies are forced to line up extra incentives and one-time payments to attract manpower.

Find out the benefits of extending your work life and ways to prepare for the transition after retiring.

The sector ranked fifth on the intent to hire metric for the fiscal second quarter which started on July 1 at 84%, said the TeamLease report.

​​ The IT-BPM workforce is set to grow 7% in this fiscal year ending March 31, with the overall headcount increasing to 5.45 million from 5.1 million, TeamLease Digital, the specialised staffing division of TeamLease Services, said in a report titled Digital Employment Outlook Report for H1-2023.

ICICI Direct is bullish on TeamLease has recommended buy rating on the stock with a target price of Rs 4240 in its research report dated July 28, 2022.

Prabhudas Lilladher recommended hold rating on TeamLease Services with a target price of Rs 3573 in its research report dated July 27, 2022.

The company’s net profit, after exceptional items, during the corresponding quarter of previous fiscal stood at Rs 26.91 crore.

Most of the companies have communicated the pay hikes to employees. While some have already given out the higher salaries, others are expected to implement them effective July, the staffing firms said.

“Other than IT, FMCG, education, telecom, ecommerce, retail essentials, healthcare, banking and financial services all are hiring. Across all industries, we are seeing a very strong intent to hire. To some extent, that is because the attrition levels were very high, especially in the last quarter. So, high attrition coupled with very strong demand is translating into a lot of new jobs especially in formal industries, largely in the metro cities. We are seeing a very strong trend.“

Apart from cab aggregators such as Uber and Ola, who are looking at regaining lost market share, and ecommerce firms that continue to hire drivers in large numbers, there is demand for drivers in the used-car sales market as well, fuelled by startups like Spinny, Cars24 and Droom which provide vehicle pickup and drop-off services.

Hiring intent of the companies has hit a 27-month high, the highest since the start of the Covid-19 pandemic, according to the latest Teamlease Employment Outlook Report, shared exclusively with ET.

An increasing number of Indian micro, medium and small enterprises (MSMEs) have stepped up their hiring of women talent to meet the labour shortage prevalent in the market, said MSME owners and staffing companies ET spoke with. The post-pandemic migrant labour crisis-when many workers moved back to their hometowns and several of them did not return--has prompted MSMEs to increasingly rely on the female talent pool by hiring from local areas.

The current scale and pace in the telecom industry is driven by "the rapid evolution of new technologies like AI, the Internet of Things (IoT), 5G, advanced data analytics and Edge computing," said Deval Singh, business head - telecom, IT& ITeS, media and government, TeamLease Services. This has led to a shift in skill requirements in the sector with a demand for candidates who are equipped with new-age skills.

Female delivery partners across all companies in the industry account for less than 1% of the overall number of people deployed in such roles.

Motilal Oswal recommended Neutral rating on TeamLease with a target price of Rs 3670 in its research report dated May 19, 2022.

ICICI Direct is bullish on TeamLease has recommended buy rating on the stock with a target price of Rs 4025 in its research report dated May 19, 2022.

​ TeamLease Services, incorporated in the year 2000, is a Mid Cap company (having a market cap of Rs 5804.35 crore) operating in Services sector.