Too early to see benefits of GST; expect market to bounce back between Q3 & Q4: TeamLease

TeamLease Services is on the radar after a 10 percent upmove this month and a 90 percent rally this year.
In an interview to CNBC-TV18, N Ravi Vishwanath, CFO of TeamLease Services spoke about the latest happenings in his company and sector.
Over the next five years, we should definitely look at compounded annual growth rate (CAGR) of 20-25 percent, he said.
Government has taken a lot of initiatives to convert the informal to formal to the more organised sector, that is where the opportunity lies for players like us. The growth of 22 percent should be achievable for us, he added.
Witnessed soft demand in July and August. We will have a clearer picture of how September looks, we do believe that the market should bounce back between Q3 and Q4, said Vishwanath.
It is too early for us to see the benefits of goods and services tax (GST). It is very early stages. It will take at least about three-four quarters for the benefits to start kicking-in, he further mentioned.
Fast moving consumer goods (FMCG), retail and e-commerce is where the uptick has been fairly significant, Vishwanath said.
Seeing a lot more opportunities in the IT companies, he added.

(The author of this article is N Ravi Vishwanath, CFO, Teamlease)
Source :  Money Control


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