- TeamLease provides its clients with staffing services and vocational training services.

- The volume growth in General staffing business (90% revenue) was moderate at 9.5% YoY in Q3 led by softness in three clients in Retail/FMCG segment, which resulted in net loss in headcount by 1k in the month of Dec 2019

- The average mark-up (realization) per associate grew 5.8% YoY, as management has taken a conscious decision to exclude projects at lower price points

- Pre-tax OCF to EBITDA for TeamLease has been impressive at an average of ~105% during FY14-17 vs. 36% for Quess Corp

- There is a positive outlook on flexi staffing industry, as the industry would benefit from

~ Onset of GST resulting in consolidation.

~ Increase in flexi-staffing penetration in India (~0.7% of workforce vs. global average of 1.6%) across various sectors

~ Labour law reforms driving formalization in the industry.

Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.

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