In a reversal from the previous year, IT behemoth Tata Consultancy Services’ (TCS) headcount increased in FY25 after the metric declined for the first time in 19 years in FY24.
India’s largest information technology services company, on April 10, said its headcount increased by 6,433 year-on-year during the financial year 2023-24.
This is a reversal from the previous financial year, when the metric decreased by 13,249. The reversal is even steeper if one were to look at FY22 numbers when the Mumbai-headquartered firm had added a whopping net 1.03 lakh employees.
On a sequential basis, TCS' headcount increased by 625 employees in January-March.
With the latest increase, TCS now employs 6,07,979 people, the company said on April 10.
“Our trainee onboarding in FY25 was 42,000 as planned. We continue to enjoy the pride of place as the employer of choice, and the industry-best retention rate by prioritising a culture of professional and personal growth, wellbeing, and purpose-driven engagement for our associates," Chief Human Resources Officer Milind Lakkad was quoted as saying in a regulatory filing.
Attrition for the quarter marginally rose to 13.3 percent from the previous quarter’s 13 percent.
For Q4, the Mumbai-headquartered company's consolidated net profit fell nearly 2 percent year-on-year to Rs 12,224 crore, amid the ongoing macroeconomic headwinds for the IT sector. India’s largest IT services company had reported a consolidated net profit of Rs 12,434 crore in the corresponding quarter last year.
TCS’ consolidated revenue from operations rose 5.3 percent year-on-year to Rs 64,479 crore in quarter ending March, as against Rs 61,237 crore in the same quarter a year ago.
The IT behemoth’s earnings missed expectations. A Moneycontrol poll of four brokerages pegged TCS’ January-March net profit at Rs 12,554 crore, and revenue at Rs 64,840 crore.
Shares of the company closed at Rs 3,246.60 on April 9, down 1.41 percent on the National Stock Exchange.
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