India’s biggest software services company, Tata Consultancy Services (TCS) has reported hiring more than 12,000 employees, 12,356 to be exact in the first quarter of the year. This is the highest recorded number in last 5 years.
Great Headcount for TCS
With the end of the April-June quarter of the current FY, TCS has recorded adding 12,356 employees in the company, which is quite a strong number. In fact, it had issued joining letters to more than 30,000 freshers in this time period, of which 40% have joined in the first quarter, while the other 60% will join by the second quarter.
It is not just the headcount that’s impressive on TCS’s account, the percentage of female employees in the company too, rose by 36.1%. The consolidated headcount of TCS stands at 4,36,641, as of June 30, 2019, including a total of 149 different nationalities.
Speaking about the quarterly result, TCS CEO and MD Rajesh Goplnathan said, “We have had a steady start to the new fiscal year. We see customers continuing to spend on their growth and transformation initiatives, and that is showing in our strong order book and deal pipeline this quarter.”
The Revenue Shows a Significant Rise As well
Tata Consultancy Services reported a net profit of Rs 8,131 crore for this year’s Q1, as compared to a year ago when the net profit was Rs 7,340 crore. The revenues went up 11.4% annually to Rs 38,172 crore in the first quarter.
It also reported a 10.8% year-on-year rise in its 1st quarter profit, performing strongly in its key banking, financial services and insurance segment. Analysts on average had expected the company to report a profit of ?7,824 crore.
How is TCS Excelling?
With 40,000 employees, TCS has been named as one of the biggest job creators in the US. TCS knows where to look for talent. It says that it’ll continue to invest in organic talent development. Training more than 315,000 employees on multiple new technologies and over 361,000 on agile methods, by the end of Q1, there’s no secret behind TCS’s great boost.
The vibrant, enriching workplace and best-In-class retention rates at TCS are a key competitive differentitator. Customers are attracted towards lower attrition because they result in greater stability and lesser everyday disruptions.