New Delhi: India’s largest IT services company, Tata Consultancy Services (TCS) on Wednesday reported a 12.2 per cent rise in its consolidated net profit at Rs 9,769 crore for the quarter ended December 2021 (Q3).
The IT firm has announced a buyback offer of Rs 18,000 crore for its shareholders at Rs 4,500 per share.
TCS had posted a net profit of Rs 8,701 crore in the same period a year ago.
In a regulatory filing, TCS said the Mumbai-headquartered firm’s revenue grew 16.3 per cent to Rs 48,885 crore in Q3 from Rs 42,015 crore in the same period last fiscal.
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“Our continued growth momentum is a validation of our collaborative, in-house approach to our clients’ business transformation needs. Clients love our engagement model, our full potential and our do-it-yourself approach to problem solving. TCS CEO and Management Mapping their innovation and growth journey, we are also helping them execute new-age operating model changes to support those journeys, Director Rajesh Gopinathan said in a statement.
The company has also declared a dividend of Rs 7 per share, the record date of which is January 20, 2022 and the payment date is February 7, 2022.
TCS Chief Operating Officer and Executive Director N Ganapathi Subramaniam said the company has crossed an important milestone of crossing the $25 billion revenue mark in calendar year 2021.
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Sameer Seksaria, Chief Financial Officer, TCS said, “Our continued investment in talent has helped us drive strong growth despite a challenging supply environment. We are focusing on strategic measures to reduce talent churn along with long term talent development. ,
The company added 28,238 employees on a net basis, taking the total number of employees to 5,56,986 as of December 31, 2021.
Its IT services attrition rate stood at 15.3 percent in the third quarter.
Milind Lakkar, Chief Human Resource Officer, TCS said, “In addition to the 43,000 freshers we have hired in H1, we also inducted 34,000 fresh graduates in the third quarter, up from our full year fresher hiring numbers in previous years. is more.”
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