TCS Q1 Results Shows 24.25% Jump - Check Complete Details

India’s largest software solutions provider Tata Consultancy Services (TCS) on Thursday reported a 24.25 per cent jump in its June quarter profit at Rs 1,906.07 crore.

The company said it will hire as many as 40,000 new hands this year because of increasing business and also to take care of high attrition rates. Tata Consultancy Services (TCS) added a net strength of 3,271 employees during the first quarter this year, raising the total number of its staff to 163,700.

“ We continue to focus on retention and providing an enriching employee experience,” said Ajoy Mukherjee, vice president, head, global human resources.

“ Our attrition has gone up this quarter but we have done a good job of retaining key performers,” N. Chandrasekaran, chief executive officer (CEO) and managing director (MD), TCS said.

Employee attrition was 13.1 per cent in the quarter.

The firm also announced that it would to raise salaries by an average 13 per cent starting this month.

“ This has been a quarter of complete outperformance.

While we remain alert about changing macro dynamics in many markets, our customer- centric business model is very relevant and helps us participate in the ongoing recovery,” Chandrasekaran said.

During the quarter, the company saw growth across service lines, including IT, BPO, infrastructure services and assurance. North America and Asia were among the primary drivers of growth.

Among the major deals bagged during the quarter by TCS include a contract worth Rs 250 crore to implement a programme for a state- run utility, while another contract worth $ 100 million was bagged to provide IT solutions to a large media firm. Chandrasekaran said the company is following at least 15 more large deals.

Income from operations rose to Rs 8,217.28 crore in the first quarter of this year from Rs 7,206.99 crore in the year- ago period.

The company has already declared an interim dividend of Rs 2 per equity share of Re 1 each.


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