BFSI yet to revive; cautious sentiment to continue, says TeamLease CFO

Ramani Dathi, CFO, Teamlease

BFSI cautiousness will likely persist for another quarter, said Ramani Dathi, Group CFO at TeamLease. The sector, impacted by regulatory restrictions, is yet to show signs of revival.

Explaining the dip in BFSI, Dathi said, “Over the last one year, due to some of the RBI restrictions and other reiterations, particularly affecting the NBFC segment, our growth has been impacted.” The sector saw a net reduction of around 7,000 roles due to scheduled attrition, leading to a 2 per cent revenue decline quarter-on-quarter. However, the company still maintained a 20 per cent topline growth for the full year.

She added that the company has been conscious of these risks: “We have ensured that our exposure in areas lacking clarity, whether roles fall under the contract or insourced model, is limited. We kept our exposure to about 7,000 roles.”

Profit after tax (PAT) for the fourth quarter of FY25 was up 35% at ₹38 crore, compared to ₹28 crore in the same period last year. EBITDA grew by 37% QoQ, supported by catch-up billing in the EdTech vertical and contributions from recent acquisitions.

(GCCs) are witnessing strong demand. Dathi also noted green shoots in the apprenticeship and HR tech businesses, which are expected to contribute meaningfully to growth in FY26.

GCCs now account for 60 per cent of total specialised staffing revenue and 40 per cent of the total headcount. “We believe this trend will continue into FY26, with a healthy number of open positions and increasing demand for mid- and senior-level hires in niche areas like cloud security and AI-enabled skills,” Dathi added.

Despite headwinds in certain sectors during the second half of FY25, TeamLease added approximately 25,000 associates during the year. The company also completed the acquisition of Ikigai Enablers, which it expects will strengthen its IT staffing footprint in Singapore and the Middle East.

Looking ahead, Dathi said, “The outlook for FY26 is very positive, and we are bullish about maintaining the growth momentum.”

Published on May 29, 2025

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