Profit after tax down 45% in Q4 2017 for TeamLease
TeamLease Services has released its results for the fourth quarter of 2018, ended 31st March 2018.
The company recorded a 45% decline in profit after tax for the quarter at ₹ 21.2 crore compared to the same period last year. The company’s PAT stood at ₹38.4 crore in the corresponding quarter of 2016-17. The decline was attributed to the full FY17 impact of 80JJAA benefits in the fourth quarter of FY17.
TeamLease Services’ revenue during the fourth quarter of FY18 grew by 20% to ₹ 977.5 crore compared to ₹ 817 crore in the same quarter of the previous financial year. The company’s PAT for FY18 grew by 28% to ₹ 73.5 crore compared to ₹57.6 crore in the previous financial year.
PAT for the year is positively impacted by the deferred tax benefits availed from the recently acquired subsidiaries, it added.
Revenue for the year grew by 19% to ₹ 3,624.1 crore compared to ₹3,041.3 crore in FY17.
TeamLease Services managing director, Ashok Reddy, said, “We continue to deliver another strong quarter with consistent revenue growth and sustainable margin expansion. We have forayed into digital space through acquisitions of Freshers World and Schoolguru this year. We remain confident of sustaining the margin expansion through scale and transformation while holding ourselves to our primary metrics of return on capital and cashflow generation.”
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