TCS reports a 14.9% rise in Q4 profits, adds over 19000 employees in the same quarter
Tata Consultancy Services Ltd reported a 14.9% rise in March-quarter profit as the services firm benefited from the demand in cloud services during the Covid-19 crisis. It also said in the company statement that 19,388 employees were hired in Q4, the highest ever in a quarter.
The total headcount stood at 488,649, a net addition of 40,185 during the year. The workforce continues to be young and very diverse, comprising 154 nationalities and with women making up 36.5% of the workforce, the company stated.
"With the second wave of the pandemic upon us, our top priority is once again to secure the health and personal wellbeing of our workforce across the world. We are looking at ways to expedite vaccinations for eligible TCSers wherever local regulations allow it," said Milind Lakkad, chief HR officer.
The company's consolidated profit for the quarter came in at Rs 9,246 crore ($1.23 billion), compared with Rs 8,049 crore a year earlier. Its consolidated revenue rose 9.4% to Rs 43,705 crore, and it recommended a final dividend of Rs 15 per share.
TCS also said that revenue from its banking, financial services and insurance business rose 15.5%, the most among its units. The business was also the biggest contributor to the company's consolidated revenue, which jumped 9.4%. With that in mind, companies like TCS, Wipro, Infosys and more will continue expansion while offering services ranging from back-office work for banks to social media content moderation and more traditional technical support.