Tata Consultancy Services (TCS), the leading global IT services, consulting, and business solutions organization, reported its second-quarter financial results for the quarter ending September 30, 2021.
The company has added 43,000 freshers in the first six months of this financial year and plans to hire another 35,000 freshers over the next 06 months of this fiscal.
TCS reported attrition of 11.9% in Q2. Although the attrition rate is the lowest among peers, it has gone up from the previous quarter’s 8.6 per cent, ending on June 30.
The management has expressed concern over rising levels of attrition and said “We believe the current levels of attrition will continue for the next two to three quarters.”
The company has also reported a total of 36.2% of women employees in the workforce. It has added 19,690 employees in Q2FY22 and the total headcount reached 528,748 as of September 30.
TCS has also announced its plans to bring employees back to office by year-end with 70% of its employees fully vaccinated and over 95% getting at least one shot.
Rajesh Gopinathan, Chief Executive Officer and Managing Director said: “The strong and sustained demand environment is a once-in-a-decade opportunity to position ourselves as the preferred growth and transformation partner for our customers. We are using the growth tailwind to invest in strengthening relevant capabilities and building out a comprehensive portfolio of offerings that caters to a broader set of stakeholders in the enterprise across business cycles, strengthening our brand, and making our business more resilient. We believe this is the most sustainable pathway to create longer-term value for all our stakeholders.”
Samir Seksaria, Chief Financial Officer said: “Strong growth and disciplined execution helped us overcome headwinds from currency and supply-side inflation and deliver expanded margins. Our industry-leading profitability and strong cash conversion give us the wherewithal to make the right investments needed to build out the business of the future.”
TCS reported a 29% rise in consolidated net profit at Rs. 9,624 crore in the September quarter, while the revenue rose 17%.