Indian IT giant TCS (Tata Consultancy Services) continued its run of posting strong quarterly financial results. Announcing its Q3 (Oct-Dec) results yesterday, TCS posted a 19.10% year-on-year rise in revenue to Rs 58,229 crore from Rs 48,885 crore in the same quarter last year.?
The IT giant also reported an 11% year-on-year rise in profit at Rs 10,846 crore for the December quarter compared with Rs 9,769 crore in the corresponding quarter last year.?
TCS board also declared a total dividend of Rs 75 per share, including a third interim dividend of Rs 8 and a special dividend of Rs 67 per equity share. Its record date will be 17th January 2023 and the dividend payment date will be 3rd February 2023.
TCS reported a marginal decline of 2,197 in its employee base for the October-December period to 6,13,974 but announced that it will be hiring upto 1.5 lakh staff in FY24.?The workforce at TCS continues to be very diverse, comprising 153 nationalities and with women making up 35.7% of the base
The Tata group company made it clear that this decline was due to the higher hiring done over the last 18 months, and not driven by the demand environment.
"¡ if you look at our overall hiring trends, we are continuing to (hire) probably at the same level. We should be hiring in the range of 1,25,000-1,50,000 people next year. It's an ongoing confidence in the medium-term, long-term view that we have," its CEO and MD Rajesh Gopinathan said, as per PTI.
Reflecting on the Q3 results, TCS¡¯ Chief Financial Officer Samir Seksaria said: ¡°Improved productivity, currency support and abating supply-side challenges helped expand our operating margin in Q3. This gives us greater confidence in our ability to steer our profitability towards our preferred range, while continuing to invest in building newer capabilities to support our growth and market share gains.¡±
N Ganapathy Subramaniam, Chief Operating Officer and Executive Director of TCS?said: ¡°As I look back at 2022, it¡¯s gratifying to see the privileged partnership that we continue to enjoy with our clients globally. In a hybrid working model we delivered many complex transformation programs tailored to the specific needs of our clients¡¯ ecosystem with speed and agility. It¡¯s also refreshing to see our delivery centers and PacePort labs busy with our consultants and client executives jointly reimagining solutions to deliver the future, now."?
Subramaniam said the year also saw his company embracing data, AI and ML holistically to disrupt itself and drive competitive advantage to clients¡¯ businesses.??"All this augur well for our future as we step into 2023,¡± he said.
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