Shares of TeamLease Services Ltd. fell to a 52-week low on Thursday after the company's revenue growth slowed for the third consecutive quarter.
After four quarters of revenue growth in excess of 30 percent, the metric slowed to 28.3 percent in the September quarter. On a sequential basis, the company's revenue grew 4 percent.
The company's EBITDA declined 7 percent from last year while margin fell to 1.6 percent from 2.2 percent in the year-ago period.
TeamLease returned to profitability during the September quarter, reporting a net profit of Rs 31.9 crore, compared to a net loss of Rs 49.5 crore last year. The loss in the base quarter is linked to a provision in its provident fund trust, which suffered losses due to its investments in DHFL and IL&FS Financial Services.
Total headcount addition during the quarter grew 20 percent from last year, which is the lowest in five quarters.
For the IT staffing business, the headcount is down 9 percent from the June quarter while revenue declined 3 percent.
Shares of Teamlease are trading 12.7 percent lower at Rs 2,483.30.
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