TCS Adds Over 14,000 Employees in Q1, Revenue Stands at $6,780 Million

TCS has a total of 606,331 comprising 153 nationalities and with women making up 35.5% of the total workforce of the company

TCS announced its Q1 results recently, and the company has reported a revenue at $6,780 million and a growth of 10.2% year on year. The company’s workforce stood at 606,331 as on 30 June, a net addition of 14,136 during the quarter. The workforce comprises153 nationalities and with women making up 35.5% of the base. TCS continues to invest in organic talent development as part of its expansion into the growth and transformation opportunity. In Q1, TCSers clocked 12 million learning hours, resulting in the acquisition of 1.7 million competencies. 

Milind Lakkad, chief HR officer, TCS said: “Our investment in strategic talent development initiatives and the linking of learning to career development have energized our workforce. Following our annual compensation review, employees received salary increases of 5 to 8%, with top performers getting even bigger hikes. Our empowering, performance-driven work culture is helping us attract local talent across all our key markets. Continued hiring momentum resulted in a milestone quarter, with the employee strength crossing the 600,000 mark.”

Highlights of TCS Results

Some of the other important highlights of TCS results are as follows: 

• Constant Currency revenue growth: +15.5% YoY.
• Operating Margin at 23.1%; contraction of 2.4% YoY.
• Net Income at $1,218 million, and Net Margin at 18%.
• Net Cash from Operations at $1,388 million ie 114.1% of Net Income.
• LTM IT Services attrition rate at 19.7%
• Dividend per share: Rs 8.00, and Record date 16 July 2022, and Payment date 3 August 2022.

Rajesh Gopinathan, chief executive officer and managing director, TCS said: “We are starting the new fiscal year on a strong note, with all-round growth and strong deal wins across all our segments. Pipeline velocity and deal closures continue to be strong, but we remain vigilant given the macro-level uncertainties. Our new organization structure has settled in nicely, getting us closer to our clients and making us nimbler in a dynamic environment. Looking ahead, we remain confident in the resilience of technology spending and the secular tailwinds driving our growth.”