Result Update
TeamLease Services Limited
Business Services
Buy
Current Price 2847
Target Price 4350
November 06, 2024
TeamLease Services (TEAM IN, INR 2,847, BUY) - Growth remains strong; margins soft; Result Update
Teamlease (TEAM) reported moderate Q2FY25 results with revenue coming in at INR27.9bn, +8.4% QoQ/+23.1% YoY—slightly above our expectation of INR26.8bn. EBITDA margin expanded to 1.2% (+30bp QoQ/-20bp YoY), below our