Revenue from operations increased 5.8% to ₹3,034.7 crore from ₹2,869.4 crore a year earlier.
EBITDA rose 2.7% to ₹31.5 crore during the quarter from ₹30.7 crore in the year-ago period, while EBITDA margin remained unchanged at 1%.
The company said that it reported a net addition of more than 700 associates during the quarter, with 4,130 net additions across its General and Specialised Staffing businesses.
This was partly offset by the planned exit of 5,500 Degree Apprenticeship trainees. TeamLease said the 3% year-on-year decline in headcount reflected the insourcing of around 23,000 associates by a large NBFC client onto its own payroll in the third quarter of FY26 due to a regulatory requirement.
The company added 127 new enterprise client logos across its businesses during the quarter.
Buyback completed
TeamLease also completed its share buyback programme approved by the board in May 2026. Under the buyback, the company repurchased up to 14,87,500 equity shares at ₹1,600 per share, aggregating up to ₹238 crore and representing 8.87% of its paid-up capital.
The record date for the buyback was July 3, 2026, while the post-offer public announcement was made on July 23, 2026.
Company’s net free cash stood at ₹350 crore after accounting for the buyback outflow. The company also had outstanding TDS receivables of around ₹145 crore.
Commenting on the results, Managing Director and CEO Suparna Mitra said business EBITDA improved, supported by GCC specialised staffing and operational efficiency. She said while hiring trends remained softer in general staffing, new client additions and hiring productivity were on an upward trajectory.
Mitra added that continued formalisation of the economy and growing demand for comprehensive talent solutions were reshaping the employment landscape, and that the company would continue investing in technology-enabled platforms, leadership capabilities and higher-margin adjacencies.
Joint venture exit
Separately, the board approved the divestment of the company’s entire 30% stake in its joint venture, Crystal HR and Securities Solutions Pvt. Ltd., by exercising its exit option under the Share Purchase Agreement dated January 6, 2025.
Under the agreement, Crystal HR will buy back TeamLease’s entire equity stake, subject to customary conditions precedent and regulatory or contractual approvals, if any.
Shares of TeamLease Services ended 0.5% lower at ₹1,294 apiece on the NSE on Wednesday, ahead of the company’s June quarter earnings announcement.
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