Top IT India Company Tata Consultation Service (TCS) on Monday reported a 7% increase in its net profit to ₹ 9,926 crore with income across the crore ₹ 50,000 for the first time. Revenue for Quarter March grew nearly 16% from last year to ₹ 50,591 crore.
Dollar income for the March quarter grew 14.3% in a constant currency from the previous year to $ 6.7 billion behind the highest order book which was worth the total contract value (TCV) of $ 11.3 billion. TCS reported the additional additional revenue of $ 3.5 billion and TCV of $ 34.6 billion for FY22.
The Chief Executive TCS (CEO) and Managing Director (MD) Rajesh Gopinathan said that IT companies gave a 6-8% salary increase in FY22 and would see the same increase with the upward bias in FY23, reported the PTI news agency.
TCS witnessed the addition of the highest employees at a quarter. From a net increase of 1.03.546, as many as 35,209 was employed in the quarter of January-March 2022. However, regardless of the addition of massive employees like that, the friction of TC services continued to rise to 17.4%. However, incremental friction has been ‘moderated’, said the company.
Meanwhile, Gopinathan hinted that the company would aspire to the two-digit growth in FY23 as well, given the handsome growth witnessed at FY22, indicating that the demand environment was very strong and there were market acceptance offered by the services offered by it.
He said the overall business momentum was positive and the company was optimistic, especially about how he had set myself for the future, which included starting ambitious reorganization of April 1.
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