TCS hires 30,000 graduates, highest in 5 years; women workforce at 36%

Tata Consultancy Services (TCS) has issued over 30,000 joining letters to recent graduates, of which 12,356 employees came on board within the April-June quarter, the best in five years. The remaining are expected to hitch the second quarter of the present fiscal. As of June 30, 2019, the total headcount at TCS stood at 436,641 and the percentage of women in the workforce rose to 36.1 per cent, it added.

'The spirited, enriching workplace and best-In-class retention rates at TCS are a key competitive soul. Customers worth the lower attrition because of results. In bigger stability and fewer disruptions in our service delivery. Moreover, TCS account teams are better placed to retain the contextual knowledge gaIned over time, and use that to build differentiated solutions tailored to each customer's unique requirements," aforementioned Milind Lakkad, Global Head, Human Resources.

On Tuesday, TCS reported a profit of Rs 8,131 crore in Q1 of the current financial year 2019-20, up 10.8 per cent from Q1 of previous financial. The net profit in the corresponding quarter of the last financial year was Rs 7,340 crore.

The Q1 FY 20 revenue grew 11.4 per cent year-on-year to Rs 38,172 crore due to strong performance from its key banking, money services, and insurance (BFSI) segment, said India's biggest software services company.

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Shares of TCS have jumped 11.83 per cent a year-to-date basis against a 7 per cent rise in the BSE Sensex. That said, the scrip declined 6 per cent in the last one week against Sensex’s 3 per cent.

Meanwhile, the company said, net addition of 12,356 employees for the quarter, was highest in the last five years.

The attrition rate in IT services stood at 11.5 per cent in the last 12 months, it added.

'The spirited, enriching workplace and best-In-class retention rates at TCS are a key competitive soul. Customers worth the lower attrition because of results. In bigger stability and fewer disruptions in our service delivery. Moreover, TCS account teams are better placed to retain the contextual knowledge gaIned over time, and use that to build differentiated solutions tailored to each customer's unique requirements," aforementioned Milind Lakkad, Global Head, Human Resources.

On Tuesday, TCS reported a profit of Rs 8,131 crore in Q1 of the current financial year 2019-20, up 10.8 per cent from Q1 of previous financial. The net profit in the corresponding quarter of the last financial year was Rs 7,340 crore.

The Q1 FY 20 revenue grew 11.4 per cent year-on-year to Rs 38,172 crore due to strong performance from its key banking, money services, and insurance (BFSI) segment, said India's biggest software services company.

Tata Consultancy Services (TCSNSE -1.18 %) on Tuesday reported a 10.8 per cent year-on-year (YoY) rise in profit at Rs 8,131 crore for June quarter against Rs 7,340 crore in the same quarter last year. On a sequential basis, profit was marginally higher. Analysts in an ET NOW poll had projected a profit of Rs 7,801 crore.

Revenue for the quarter rose 11.4 per cent YoY to Rs 38,172 crore, the company said in a BSE filing. Revenue growth in constant

Among geographies, growth was led by the UK (up 16 per cent), India (up 15.9 per cent) and Europe (up 15 per cent). Other markets showed good momentum: North America (up 7.7 per cent), Asia Pacific (up 9.5 per cent), MEA (up 6.4 per cent) and Latin America (up 6.4 per cent).

Shares of TCS have jumped 11.83 per cent a year-to-date basis against a 7 per cent rise in the BSE Sensex. That said, the scrip declined 6 per cent in the last one week against Sensex’s 3 per cent.