India's largest IT services firm TCS added 20,409 employees in the quarter ending June 2021, highest ever in a quarter, taking the total employees to over 5 lakh.
The company has also reported an attrition rate of 8.6 percent, the lowest in the industry. The IT services major will hire 40,000 freshers in FY22, same as that of FY21.
Moneycontrol earlier reported that the company is likely to meet its 5 lakh employee milestone in the June quarter.
While the five lakh milestone would make TCS the largest Indian technology employer, globally it will come second to Accenture, which already has 5.37 lakh employees. While Infosys has an employee strength of nearly 2.5 lakh, HCL Tech and Wipro have 1.6 lakh and 1.9 lakh respectively. To put this in perspective, TCS will only be second to Indian Railways, a government-owned enterprise that has over a million employees. Private conglomerates such as Aditya Birla Group for example have over 1.2 lakh employees, while L&T has over 3.37 lakh and Reliance Industries has nearly 2 lakh employees.
TCS registered Rs 45,111 crore in revenues for the quarter, up 18.5 percent year-on-year (YoY) and Rs 9008 crore in net profits, a 28.5 percent YoY growth.
The company signed deals worth $8.1 billion in the first quarter of the year.
N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: “We overcame the challenges posed by the second wave of Covid-19 in India taking some practical approaches and am satisfied that the delivery of all our client engagements was kept on track. We once again had a superior quarter with a TCV of $8.1 billion which is broad-based across markets and verticals. Our G+T themes are seeing traction in the market place and we are delighted to sign our largest SaaS deal ever for the TCS BaNCS Global Banking Platform on the cloud during the quarter.”
Samir Seksaria, Chief Financial Officer, said: “We crossed the $6 billion milestone in quarterly revenue this quarter. In addition to our annual salary increase and promotions, we undertook one of the largest vaccination drives in the private sector. Despite this and headwinds in regional markets, we expanded our Q1 operating margin year on year, reflecting the inherent resilience of our business model. Looking ahead, we stay focused on making the right investments to power our expansion in the growth and transformation opportunity, while sustaining our industry-leading profitability.”
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