Jul 8, 2022
By: Bhakti MakwanaThe IT major reported a profit of ₹9,478 crore in June 2022 quarter, growing 5.2 percent from the year-ago period.
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It announced an interim dividend of ₹8 per share.
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CEO and MD Rajesh Gopinathan said that, “pipeline velocity and deal closures continue to be strong, but we remain vigilant given the macro-level uncertainties."
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TCS’s operating margins shrinks to 23.1 percent, a contraction of 2.4 percent on year because of higher employee cost and resumed travel.
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The company has hired 14,136 employees for the first quarter of the current financial year, which is now an army of 6.06 lakh people.
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However, it has lowered hiring as it had added 35,209 employees in the previous quarter.
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The issue of number of employees leaving IT firms still persists as the attrition rate has gone up to 19.7 percent from 17.4 percent last quarter.
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Among verticals, growth was led by retail and CPG (25.1 percent), communications (19.6 percent), manufacturing (16.4 percent) and technology & services (16.4 percent). BFSI grew 13.9 percent while healthcare grew 11.9 percent.
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Owing to fears of recession and Russia Ukraine crisis, shares of the company have fallen over 14 percent this year so far.
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