{"id":1247514,"date":"2023-07-14T09:31:37","date_gmt":"2023-07-14T04:01:37","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1247514"},"modified":"2023-07-14T09:32:11","modified_gmt":"2023-07-14T04:02:11","slug":"tcs-earned-rs-123-crore-day-in-last-90-days-profit-up-by-16-8-revenues-cross-rs-59000-crore","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/tcs-earned-rs-123-crore-day-in-last-90-days-profit-up-by-16-8-revenues-cross-rs-59000-crore\/","title":{"rendered":"TCS Earned Rs 123 Crore\/Day In Last 90 Days: Profit Up By 16.8%, Revenues Cross Rs 59,000 Crore"},"content":{"rendered":"\n<p>Tata Consultancy Services reported a 16.8 percent increase in net profit on a year-on-year (YoY) basis in the quarter ended June 30.<\/p>\n\n\n\n<p>Its performance is driven by a strong growth in total contract value (TCV) deal wins despite a challenging business environment.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/07\/Untitled-design-1-5-1280x720-1-1024x576.png\" alt=\"TCS Earned Rs 123 Crore\/Day In Last 90 Days: Profit Up By 16.8%, Revenues Cross Rs 59,000 Crore\" class=\"wp-image-1247520\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/07\/Untitled-design-1-5-1280x720-1-1024x576.png 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/07\/Untitled-design-1-5-1280x720-1-300x169.png 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/07\/Untitled-design-1-5-1280x720-1-768x432.png 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/07\/Untitled-design-1-5-1280x720-1.png 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Revenue<\/strong><\/p>\n\n\n\n<p>Consolidated revenue for the quarter came in at Rs 59,381 crore, an on-year surge of 13 percent.<\/p>\n\n\n\n<p>In constant currency terms, the revenue grew by 7 percent YoY.<\/p>\n\n\n\n<p>In dollar terms, the revenue grew by 4 percent from the previous quarter to $7,226 million.<\/p>\n\n\n\n<p><strong>Poor growth overall<\/strong><\/p>\n\n\n\n<p>The software services exporter grew by a modest 0.4 percent, which is its slowest growth in the last 12 quarters.<\/p>\n\n\n\n<p>Net profit declined by 3 percent as against the March quarter.<\/p>\n\n\n\n<p><strong>Industry-wise performance<\/strong><\/p>\n\n\n\n<p>Among the various industries to which TCS caters to, the business growth was led by life sciences and healthcare at 10.1 percent.<\/p>\n\n\n\n<p>This is followed by the manufacturing vertical which grew 9.4 percent, BFSI by 3 percent, retail and CPG by 5.3 percent, technology and services by 4.4 percent while communications and media grew 0.5 percent.<\/p>\n\n\n\n<p><strong>Presence in various markets<\/strong><\/p>\n\n\n\n<p>Among the major markets, the United Kingdom led with 16.1 percent growth; North America grew 4.6 percent and Continental Europe grew 3.4 percent.<\/p>\n\n\n\n<p>In emerging markets, Middle East and Africa grew 15.2 percent, <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/earnings\/tcs-q1-results-net-profit-up-16-8-at-rs-11074-crore-revenue-at-rs-59381-crore-10946521.html\/amp?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">India <\/a>grew 14 percent, Latin America grew 13.5 percent, and Asia Pacific grew 4.7 percent.<\/p>\n\n\n\n<p><strong>Employee addition<\/strong><\/p>\n\n\n\n<p>TCS added 523 employees on a net basis during this quarter, a slight dip from last quarter\u2019s 821 employees.<\/p>\n\n\n\n<p>With this, the company\u2019s headcount stood at 6,15,318 as of June 30.<\/p>\n\n\n\n<p><strong>Attrition<\/strong><\/p>\n\n\n\n<p>Attrition levels dipped to 17.8 percent on the last-twelve-months basis.<\/p>\n\n\n\n<p>The figure last quarter stood at 20.1 percent.<\/p>\n\n\n\n<p>Chief Human Resources Officer Milind Lakkad said that the company <a href=\"https:\/\/www-moneycontrol-com.cdn.ampproject.org\/c\/s\/www.moneycontrol.com\/news\/business\/tcs-adds-523-employees-in-q1fy24-on-a-net-basis-attrition-falls-to-17-8-10946691.html\/amp\">expects <\/a>attrition to trend down and be in the long-term range by the second half of the year.<\/p>\n\n\n\n<p><strong>Slowing hiring<\/strong><\/p>\n\n\n\n<p>The firm has been slowing down its hiring in the last few quarters, after it added a record number of employees in FY22.<\/p>\n\n\n\n<p>It added 22,600 employees on a net basis in all of FY23, as opposed to 1.03 lakh in FY22.<\/p>\n\n\n\n<p>Asked to comment on the delays in fresher and literal hires onboarding, Lakkad said that they are committed to honouring all offers that were made, with the company\u2019s focus on \u201cleveraging the capacity\u201d it built last year.<\/p>\n\n\n\n<p><strong>Work from office<\/strong><\/p>\n\n\n\n<p>Lakkad said that 53 percent of the company\u2019s workforce is in office thrice a week, after the company asked employees to return to offices for work.<\/p>\n\n\n\n<p>\u201cWe remain focused on developing, retaining and rewarding the best talent in the industry, and enhancing their effectiveness by bringing them back to office to foster our culture,\u201d Lakkad said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tata Consultancy Services reported a 16.8 percent increase in net profit on a year-on-year (YoY) basis in the quarter ended June 30. Its performance is driven by a strong growth in total contract value (TCV) deal wins despite a challenging business environment. Revenue Consolidated revenue for the quarter came in at Rs 59,381 crore, an [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1247520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[92,2117,509,1397],"class_list":["post-1247514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-tcs","tag-tcs-employees","tag-tcs-profits","tag-tcs-salary-hike"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TCS Earned Rs 123 Crore\/Day In Last 90 Days: Profit Up By 16.8%, Revenues Cross Rs 59,000 Crore - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/tcs-earned-rs-123-crore-day-in-last-90-days-profit-up-by-16-8-revenues-cross-rs-59000-crore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TCS Earned Rs 123 Crore\/Day In Last 90 Days: Profit Up By 16.8%, Revenues Cross Rs 59,000 Crore - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"Tata Consultancy Services reported a 16.8 percent increase in net profit on a year-on-year (YoY) basis in the quarter ended June 30. 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