TSTeamLease Services539658Quarterly results

Q2FY27 release: revenue up 4% YoY, operating EBITDA up 5%, PAT down 7%, headcount down 8%

Q2FY27 press release: total revenue Rs 3,086 crore (+4% YoY), operating EBITDA Rs 44 crore (+5% YoY), profit after tax Rs 26 crore (-7% YoY).

By ScoutQuest · Thu 5 Nov 2026, 4:58 PM IST · 2 min read

Total Revenue

Rs 3,086 crore (+4% YoY)

Profit After Tax

Rs 26 crore (-7% YoY)

Headcount

3,33,170, down 8% YoY

Results at a glance

• Total revenue of Rs 3,086 crore in Q2FY27, up 4% year-on-year and 1% quarter-on-quarter.
• Operating EBITDA of Rs 44 crore, up 5% year-on-year and 17% quarter-on-quarter. EBITDA margin at 1.2%, against 1.3% a year earlier.
• Profit before tax of Rs 30 crore, up 2% year-on-year but 18% lower than the previous quarter.
• Profit after tax (before exceptional) of Rs 26 crore, down 7% year-on-year and 25% quarter-on-quarter. PAT margin 0.8%.
• Earnings per share of Rs 15, against Rs 16 in Q2FY26.

For the half year H1FY27, total revenue was Rs 6,142 crore, operating EBITDA Rs 82 crore (up 11% year-on-year), profit after tax Rs 60 crore and EPS Rs 36.

Headcount and people

• Total headcount of 3,33,170, down 8% year-on-year from 3,62,000 and 2% lower than 3,41,330 in the previous quarter.
• The company attributes this to a net loss of over ~8k associates during the quarter, led by a planned exit in Staffing of a low-margin block of ~7k count.
• General Staffing headcount 2,85,000, Degree Apprenticeship 40,500 and Specialised Staffing 7,670.

Business segments

• General Staffing added 32 new logos, of which more than 75% were onboarded under the variable engagement model. Days sales outstanding held at 6 days, with funding exposure at 16%.
• Degree Apprenticeship added 13 new client logos; 32% of the total associate base has now fully adopted integrated learning solutions. A leadership transition is planned in Q3FY27, with focus on stabilising and returning the business to growth.
• Specialised Staffing gross revenue grew 1% quarter-on-quarter and 18% in H1 year-on-year; segment EBITDA rose 15% sequentially, with India business at 7.6% EBITDA margin and Global at 4.3%. It added 40 net headcount during the quarter, and the GCC segment contributed over 67% of segment revenue.
• HR Services segment revenue grew 15% quarter-on-quarter and 5% in H1 year-on-year, with segment EBITDA margin at 3% for the quarter; losses in the segment narrowed year-on-year.

Other highlights

• 114 new client logos added across all businesses during the quarter.
• The divestment of 30% in Crystal HR was completed, with NIL loss on capital invested.
• Net free cash stood at Rs 350 crore after the buyback outflow, with outstanding TDS receivable of ~Rs 160 crore.

What management said

Managing Director and CEO Ms. Suparna Mitra said business outcomes in Q2 were below the company's aspirations, and that it has made decisive choices including completing the Crystal HR divestment with no loss on capital invested, while working towards higher margin adjacencies. She noted operating EBITDA grew 11% year-on-year in H1 and that Specialised Staffing, anchored by more than 130 GCC clients, continues to deliver profitable growth.

The release also carries a forward-looking statement disclaimer noting that actual results may differ materially due to known and unknown risks and uncertainties.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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