TeamLease Services Q3 results: PAT down 8.3% at Rs 28.4 cr on high expenses

India’s TeamLease Services reported an 8.3 per cent drop in third-quarter profit on Wednesday, below Street expectations, dragged down by a jump in expenses.

The staffing services provider’s consolidated net profit fell to Rs 28.43 crore ($3.29 million) for the three months ended Dec. 31, from Rs 31 crore a year ago.

Analysts, on average, expected a profit of Rs 31.05 crore, according to data compiled by LSEG.

Its shares dropped 2 per cent after the results.