Apr 12, 2022
By: Bhakti MakwanaThe information technology (IT) major recorded a profit of ₹9,926 crore in Jan-Mar quarter 2022, which grew 7.4 percent from the year-ago period.
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If one were to view the growth in profitability over the last 10 years, it has risen multifold from ₹10,413 crore in FY12 to ₹38,449 crore in FY22.
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Along with it, revenue went up by 15.8 percent to ₹50,591 crore while recording the highest ever order book of $11.3 billion in March quarter.
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Also, it announced a final dividend of ₹22 per share. The dividend will be paid on the fourth day from the conclusion of the 27th annual general meeting.
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The IT major has hired over 1.03 lakh employees in FY22, now an army of almost 6 lakh people. TCS added 35,209 employees in the last three months.
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TCS’s employee attrition rate continued to rise during the January-March quarter reaching 17.4 percent.
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The company’s employee costs during the quarter increased nearly 20 percent to ₹28,353 crore from ₹23,625 crore a year ago. This shows a big hit on the firm’s expenses and eventual profits.
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However, the company’s management expects the attrition rate to continue to move up for a few more quarters and later cool off.
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In the services space, TCS said that demand continued to be strong during the quarter as well as the full year across all markets, industries, and services, with growth led by cloud, cyber security, enterprise application services and internet of things (IoT) and digital engineering.
Credit: BCCL