Announcing its result for the last quarter of the previous financial year (Q4FY21), IT giant Tata Consultancy Services (TCS) said that the company has reported a growth of 7 per cent in its net profit to Rs 9,926 crore. “Consolidated revenue during the period under review rose by 16.3 per cent YoY to Rs 5,059.1 crore from Rs 4,370.5 crore. “We are closing FY22 on a strong note, with mid-teen growth and adding the maximum incremental revenue ever. “Increasing participation in our customers’ growth and transformation journeys, and an all-time high order book provide a strong and sustainable foundation for continued growth ahead”, said Chief Executive Officer (CEO) and Managing Director Rajesh Gopinathan. He also said that the IT major is planning to bring back its employees to base locations. TCS had switched to the hybrid model owing to the COVID-19 pandemic, which witnessed three waves in India.
Salary Hike
Speaking about salary hikes, Gopinathan said that the tech giant gave a hike of 6-8% to its employees in FY22 and will be looking at similar hikes with an upward bias in FY23.
Employee Metrics
- Net Addition: 103,546 employees
- Employee Headcount: 592,195
- Diversity: 153 nationalities; 35.6% women
- IT Services Attrition (LTM): 17.4%
Returning to Office
“We are starting with our senior associates, the top 50,000 employees, who will start coming to the office, starting three days a week from this month itself. And then we will continuously increase the coverage of associates who will start coming back. So, sometime during the middle of the year, we should be somewhere in the well on the way to the 80:20,” news agency PTI quoted Gopinathan as saying.
25/25 Model
Furthermore, Gopinathan exuded confidence about the 25 /25 model that the company had laid out, but ‘believes it has to be implemented in a structured manner as currently, the IT firm is operating at almost like a 95:5 model’.
