Thursday 19 May 2022

TCS fiscal Q3 revenue surges 14% to top $6.5bn

DUBAI, January 16, 2022

Tata Consultancy Services, a global IT company, reported a consolidated revenue of $6.524 billion for the quarter ended December 31, 2021, marking an increase of  +14.4% year-on-year (YoY); +15.4% YoY according to Ind AS and IFRS.

The India-based company’s net Income reached $1.303 billion, reflecting an increase of 10.5% YoY and net margin at 20%. Operating margin reached 25%; a 1.6% decline YoY.

Other highlights for the quarter:

Strong Client Addition: 10 New $100 million+ Clients (total: 58); 21 new $50 million+ clients (total: 118)
Net Cash from Operations at 111.1% of Net Income
Net headcount addition of28,238 |Workforce strength: 556,986
Diverse and Inclusive: Women Employees Exceed 200,000; +68% growth in number of senior women executives during 2016-21 | 156 Nationalities in the workforce
Building a G&T workforce: 100K+ market relevant skills gained in Q3 |38,000 + Contextual Masters identified
LTM IT Services attrition rate at 15.3%; lowest in the industry
Board recommends a buyback of shares to the tune of `INR18,000 Cr at ` INR4,500per share
Dividend per share: ` 7.00 | Record date 20/01/2022 | Payment date 07/02/2022

Rajesh Gopinathan, Chief Executive Officer and Managing Director, said:“Our continued growth momentum is a validation of our collaborative, inside-out approach to our customers’ business transformation needs. Customers love our engagement model, our end-to-end capability, and our can-do approach to problem solving. While mapping out their innovation and growth journeys, we are also helping them execute new-age operating model transformations to support those journeys.”

N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: “We continued our focus on growing organically and on developing the talent, methodologies, and toolkits for an ever-evolving technology landscape.  This, coupled with our contextual knowledge and the passion and commitment of thousands of TCSers enabled us to deliver cutting-edge solutions during the quarter, and help our clients realize speed to value. We are also delighted to cross another important milestone in our journey, hitting the $25 billion revenue mark in CY 2021.”

Samir Seksaria, Chief Financial Officer, said: “Our sustained investment in our talent has helped us power strong growth despite a challenging supply environment. We remain focused on long term talent development as well as on tactical measures to mitigate the talent churn. We have exercised various operating levers in Q3 to mitigate the higher costs and manage our employee expense.” – TradeArabia News Service


More IT & Telecommunications Stories

calendarCalendar of Events