TCS Q4 results have been announced, and the company claims to have closed the quarter that ended on 31 March 2021 on a ‘strong note’. The company reported a revenue of $5.989 billion and 5% quarter on quarter along 10% year-on-year. Some of the other highlights of the results are as follows:
- Q4 Operating Margin: 26.8%, +0.2% expansion QoQ, +1.7% YoY
- Q4 Order Book: $9.2 Bn; Highest Ever TCV in a Qtr
- FY 21 Revenue $22.174 Bn, +0.7% (-0.8% in CC)
- FY 21 Operating Margin: 25.9%, +1.3%*; Net Margin: 20.3%*
- FY 21 Order Book: $31.6 Bn, +17.1% YoY
Rajesh Gopinathan, chief executive officer and managing director, TCS said: “Our investments over the last decade in building newer capabilities, and in research and innovation, position us well for the multi-year technology services opportunity ahead. While we continue to dominate in our traditional areas of strength, we are making good progress in gaining share in the growth and transformation opportunity. Our focus going into FY 22 will be to engage with clients in their growth agenda, propelled by innovation and leverage of collective knowledge.”
Some of the other highlights of the TCS Q4 results was that the company reportedly added 19,388 employees to its rolls on a net basis, which is its highest ever net addition in a quarter. The total headcount stood at 488,649 as on 31 March, amounting to a net addition of 40,185 during the year. The workforce continues to be young and very diverse, comprising 154 nationalities and with women making up 36.5% of the workforce.
The employees of the company also logged 43 million learning hours in FY 2021, resulting in over 379,000 employees getting trained on multiple new technologies, and over 457,000 trained on Agile methods. TCS also reported IT Services attrition rate (LTM) at 7.2%.
On this development, DD Mishra, Senior Research Director, Gartner, said: “TCS employs more than 450,000+ people in 46+ countries, making it the second-largest IT services provider by headcount. Its attrition rate, already lower than many of its competitors, came down further to 7% during the COVID-19 pandemic. TCS no longer relies as heavily as it used to on posting skilled engineers from India into the US under the H1-B visa program. TCS operates in a crowded and competitive market. TCS rapidly deployed its Secure Borderless Workspaces (SBWS) architecture during the pandemic, a collection of technologies designed to provide a digital workplace, manage distributed projects, protect client data, while ensuring employee well-being. Clients stated that TCS was able to manage the situation well.”
Recently, TCS also announced a salary hike for all its employees, which came into effect from April 2021. “We can confirm that we are on track to give increments to all associates across our geographies effective April 2021, in line with our benchmarks. We are extremely thankful to all our associates for demonstrating resilience, adaptability, and an innovative mindset to steer the company in these trying times. This step is a reflection of our steadfast commitment to our associates,” said a company spokesperson had said.