TCS delivers strong Q1 performance. Apart from delivering sequential growth in all major markets, the IT major also clocked double-digit growth in Emerging Markets, led by India. What’s most encouraging for many is that the company added over 5000 new jobs and recorded lower attrition rate.
More jobs, lesser attrition
The net workforce at the end of Q1FY25 stands at 606,998 employees. TCS recorded a net headcount addition of 5,452 employees. Not only did the IT major hire more people but it was also diver and across nationalities making it an inclusive workplace. Nearly 35.5% of the workforce were women and 151 Nationalities were represented in its workforce.
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Speaking on the lower LTM IT Services attrition rate at 12.1% , Milind Lakkad, Chief HR Officer, said: “I am delighted to announce the successful completion of our annual increment process. Our continued focus on employee engagement and development led to industry-leading retention and strong business performance, with the net headcount addition being a matter of immense satisfaction.”
Wages increased
Not only did the tech najor add more jobs but also completed the increment process. Samir Seksaria, Chief Financial Officer, said: “In spite of the usual impact of the annual wage increments in this quarter, we have delivered strong operating margin performance, validating our efforts towards operational excellence. We remain focused on making the right investments in R&I and talent, strengthening our superior return ratios and creating long term value for our stakeholders.”
Dividend announced
The company announced an interim dividend of Rs 10. On an average the company has had a steady record of paying dividends and in FY24 it closed the year with an annual dividend of Rs 73/share. For the past 5 years, the company has been paying dividends to investors steadily.
Growth across all markets
TCS recorded net profit of Rs 12,105 crore in Q1FY25, up 8.85% from Rs 11,120 crore in Q1FY24. All major Markets clocked sequential growth with emerging markets led by India recordng strong double-digit growth at 61.8% YoY.
K Krithivasan, Chief Executive Officer and Managing Director, said: “IWe are continuing to expand our client relationships, create new capabilities in emerging technologies and invest in innovation, including a new AI-focused TCS PacePort in France, IoT lab in the US and expanding our delivery centers in Latin America, Canada and Europe.”
From: financialexpress
Financial News
