India’s largest IT services company Tata Consultancy Services (TCS) on Monday reported a consolidated net profit of Rs 9,926 crore for the March 2022 quarter, a jump of 7.35 per cent on a year-on-year basis. The net profit had stood at Rs 9,246 crore in the corresponding period of the previous financial year. The company’s revenue during January-March 2022 rose 15.75 per cent to Rs 50,591 crore, compared with Rs 43,705 crore in the year-ago period.
Its total expenditure also increased by 18.74 per cent to Rs 37,963 crore, against 31,971 a year ago, according to a BSE filing by the company. The company’s consolidated operating income increased 6.79 per cent to Rs 12,383 crore, against Rs 11,596 crore earlier.
The company’s employee costs during the March 2022 quarter increased nearly 20 per cent to Rs 28,353 crore, against Rs 23,625 crore a year ago.
In Q4, TCS added 35,209 employees on a net basis, the highest-ever net addition in a quarter, the company said. Employee headcount stood at 5,92,195, a net addition of 1,03,546 during the year, another all-time high. The workforce continues to be diverse, comprising 153 nationalities and with women making up 35.6 per cent of the workforce.
The company’s information technology services attrition was 17.4 per cent during the financial year 2021-22. There was a net addition of 103,546 employees during the year and the total headcount stands at 5,92,195. “With the highest-ever net addition this year, consistently highest talent retention, benchmark talent development metrics, continued focus on health and wellbeing and numerous industry awards, we have reaffirmed TCS’ position as the #1 employer of choice,” said TCS Chief HR Officer Milind Lakkad said.
For the full financial year 2021-22, its revenue jumped 16.8 per cent to Rs 1,91,754 crore, and was up 15.4 per cent on the constant currency basis.
During the quarter, overseas growth at Tata Consultancy Services was led by North America which grew 18.7 per cent, followed by the UK (13 per cent), Continental Europe (10.1 per cent). Among emerging markets, Latin America grew 20.6 per cent, Middle East & Africa increased 7.3 per cent, India was up 7 per cent, and Asia-Pacific jumped 5.5 per cent.
Earnings per share of Tata Consultancy Services increased to Rs 26.85, compared with Rs 24.97 at the end of the March 2021 quarter.
“The board meeting held today (Monday), the directors have recommended a final dividend of Rs 22 per equity share of Rs 1 each of the company, which shall be paid/ dispatched on the fourth day from the conclusion of the 27th Annual General Meeting, subject to the approval of the shareholders of the company,” it said in the statement.
TCS Chief Executive Officer and Managing Director Rajesh Gopinathan said, “We are closing FY22 on a strong note, with mid-teen growth and adding the maximum incremental revenue ever. Increasing participation in our customers’ growth and transformation journeys, and an all-time high order book provide a strong and sustainable foundation for continued growth ahead.”
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