BENGALURU: India’s largest IT services company, Tata Consultancy Services (TCS) hired 40,185 employees for FY20-21(FY21) amidst job uncertainties and lay-offs globally.
The software services exporter said that the attrition rate for FY21 remained at an all time low at 7.2% and the total headcount jumped to 488,649.
TCS saw the highest ever addition of employees (19,388) in a quarter during Q4, FY21 as company Chief Human Resources Officer, Milind Lakkad, said that all the hiring commitments for the financial year were honoured. He added that the company will continue to look actively for talent from the market in addition to hiring from the colleges.
TCS, CEO, Rajesh Gopinathan said that the company is planning a multi-disciplinary focus to access new markets, deal clinches and M&As after a solid Q4, FY21 performance in a pandemic year. The company net profit for Q4, FY21 rose by 14.9 per cent to Rs 9,246 crore whereas the operating margin expanded marginally sequentially (0.2%) to 26.8 per cent ( a 1% YoY increase).
Even as the Q4 revenues in constant currency terms grew by 5.9% YoY to Rs 43,705 crore , the FY21 revenues was reported at Rs 164,177 crore, a 0.8% decline in CC terms. Q4 also turned out to be the strongest quarter in total contract value for TCS with a $9.2 billion order book. On the back of digital transformation journeys undertaken by many enterprise clients (accelerated by pandemic), TCS saw its deals value grow by 17.1% YoY to $31.6 billion. In terms of verticals, on a full year basis, Life Sciences and Healthcare (+17.1%), BFSI (+2.4%) and Technology & Services (+0.2%) showed growth while the rest continue to be below prior year levels.
TCS said that it retuned Rs 30,664 crore of cash to shareholders through buybacks and dividends. Earlier, the company had announced a Rs 16,000 crore buyback plan in which the parent firm, Tata Sons tendered shares worth Rs 10,000 crore. The company has also proposed a final dividend of Rs 15 per share.
"Our investments over the last decade in building newer capabilities, and in research and innovation, position us well for the multi-year technology services opportunity ahead. While we continue to dominate in our traditional areas of strength, we are making good progress in gaining share in the growth and transformation opportunity. Our focus going into FY 22 will be to engage with clients in their growth agenda,propelled by innovation and leverage of collective knowledge," Rajesh Gopinathan, Chief Executive Officer and Managing Director, said.