TeamLease cancels 1.487 million shares after completing buyback

TeamLease has completed its share buyback and extinguished 1.487 million shares, reducing its total outstanding equity from 16.7689 million shares to 15.2814 million shares. The cancellation forms part of the capital return plan disclosed in the company's Q1 FY27 financial results. For the quarter, net profit rose 38% year-on-year to Rs 3.4 billion. Following the buyback, founder ownership increased to 33.29%, while foreign shareholding climbed to 66.71%. The move is expected to have a direct bearing on the stock's earnings per share, ownership mix and investor sentiment.