Ravi Vishwanath, CFO of TeamLease Services speaking at length about the current staffing and hiring trends in different sectors and the latest happenings in his company said, “Companies have resumed hiring but we haven’t seen hiring in large numbers yet like we would normally see. It is just a trickle as of now."

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"We hope the trickle increases in the coming quarters, but as of now Q3 is just a trickle especially more towards November and December; even the festival month of October was not the usual hiring that one would see,” he said in an interview with CNBC-TV18.

“Hiring is largely in sectors like BFSI, fintech, retail, FMCG. We have not seen pick up yet in manufacturing and auto,” he said, adding that they don’t provide staff to construction companies because it is unregulated.

On business front, he said, “The recent company we acquired is in infrastructure space, which is remote desktop monitoring. More and more companies are outsourcing their IT hardware to large players and IMSI is one of the preferred vendors for companies like IBM, Wipro, Cognizant who seem to be picking up some of these big ticket contracts from enterprises in India.”

"IMSI is a 25 year old company. They have about 2,000 people, it is a part of our IT and specialized staffing strategy and it fits in well in terms of our strategy. So with this acquisition our IT portfolio is more or less complete,” Vishwanath said.

When asked about government training business, Vishwanath said that over time they will be exiting government business. “This is a planned reduction which will continue to get done and we would probably exit it completely by 2021-2022 timeframe," he said, adding that reduction in the government training business would not have a significant impact on their topline.