TCS Q4 Results: Company Onboards 44,000 Freshers and Highest Ever Number of Experienced Professionals

TCS Q4 results have been announced and the company has reported a revenue at $7,195 million, up 7.4 percent year-on-year. The net profit of the company stands at Rs 11,392 crore, which is up 14.8% percent year-on-year. “It is very satisfying to look back at our strong growth in FY 2023, on top of the mid-teen growth in the prior year. The strength of our order book demonstrates the resilience of demand for our services,” said Rajesh Gopinathan, CEO and MD, TCS.

“Krithi and I are working closely to ensure that the leadership transition over the next few months is smooth and seamless to all our stakeholders, and that TCS is well positioned to capture the opportunities ahead,” added Gopinathan will continue with the company till 15th September 2023 to provide transition and support to K Krithivasan who will succeed him as CEO and MD of TCS.

Growth in TCS Q4 was led by retail and CPG (+13%) and life sciences and healthcare (+12.3%) while other verticals grew in single digits. Technology and services grew 9.2%, BFSI grew 9.1%, manufacturing grew 9.1% and communications and media grew 5.3%. The company added that all other verticals showed growth in a narrow band around the company average. Technology and services grew 13.7%, life sciences and healthcare grew 13.3%, manufacturing grew 13%, and BFSI grew 11.8%. If growth were to be viewed on a full year basis, it was led by retail and CPG (+19.7%) and communications and media (+14%).

“FY 23 was a year of transition, as supply-side challenges abated while pandemic-depressed travel and discretionary spends normalized. We navigated this change well, without slowing down our investments in our people, research & innovation and IP,” said Samir Seksaria, CFO, TCS. “Our longer term competitiveness remains intact, giving us industry-leading profitability even as we pursue our growth aspirations,” he added.

TCS Q4 Recruitment and Hiring

Milind Lakkad, CHRO, TCS said that that company was honoring all job offers, and have added 22,600 employees on a net basis in FY 23. During the year, TCS onboarded over 44,000 freshers and the highest-ever number of experienced professionals. 

“As we grow the TCS family, I want to call out the stellar role played by our recruitment team in swiftly scaling up hiring, and onboarding the best available talent, enabling TCS to meet its delivery commitments and capture growth,” said Lakkad.

TCS’ workforce was at 614,795 as on March 31, 2023, a net addition of 821 in Q4 and 22,600 for the year. In FY 23, TCS claims that its employees clocked 48.3 million learning hours, and acquired nearly 6 million competencies.