On July 8, India’s largest IT major, TCS has announced the Q1 results of the Financial Year 2021-22. Net profit of the company rose to Rs. 9,008 crore, in Q1 FY22 ending June 30 from Rs. 7,008 crore a year earlier. Revenue from operations jumped 18.5% to Rs. 45,411 crore. The company unveiled a 29% rise year-on-year in quarterly profit, powered by higher demand from businesses ramping up digital services during the COVID-19 crisis.
- TCS records attrition rate 8.6% in Q1 of FY22, which is higher than the previous quarter (Q4 of FY21) that was 7.2%, but still it is lowest in the industry.
- The company has crossed the 500,000 milestone in the June quarter, with total headcount of 509,058 as of June 30. TCS saw a net addition of 20,409, its highest quarterly net addition ever.
- The workforce continues to be diverse and inclusive. Women in the workforce making up 36.2% of the workforce.
- Employees logged over 10 million learning hours in Q1, over 478,000 employees have been trained in agile methods and over 407,000 employees have been trained on multiple new technologies.
Commenting on the Q1 earnings, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said, “I am humbled that in a personally challenging quarter to many, TCSers demonstrated phenomenal character in helping each other, be meaningful to the communities and delivered on our commitments to clients. On that backdrop, our business in North America, BFSI and Retail all showed an appreciable growth which underlines the resilience of our operating model, relevance of our offerings and above all, the passion and dedication of our associates.”
“Given the variants of the virus and fears of a potential third wave, we are watchful of the emerging situation and remain optimistic of the opportunities in our core markets and verticals. We are well positioned and operating diligently to participate in them aggressively,” he added.
Commenting on the Q1 results Milind Lakkad, Chief HR Officer, said, “During the months of April and May, the second wave of pandemic has been quite demanding for the TCS Family. Our thoughts are with the families who suffered personal loss despite our best efforts. I want to acknowledge the temperament and personality of our associates who stood by each other in these stressful times. We continued to place a premium on associate health and wellbeing and have taken vaccination as a priority for all our associates, dependents and contract staff. “
“In less than two months, over half a million associates and family members and over 70 percent of our associates have been vaccinated, and we are on track to vaccinate all TCSers and families by September,” he said .
