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TCS Q1 net profit rises 5% YoY to Rs 9,478 crore, attrition soars to 19.7%
Revenue from operations of the company during the quarter came in at Rs 52,758 crore
TCS Q1 Results LIVE | Tata Consultancy Services saw attrition for the Q1FY23 come in at 19.7 percent on a last twelve-month basis, which is the highest in the last six quarters. It is up from 17.4 percent in Q4FY22. TCS added 14,136 employees in the first quarter of FY23, taking its headcount to over 6 lakh. On a year-on-year basis, its net addition numbers were down from 24,000 in Q1FY22 to 14,000 in Q1FY23. Read full report
TCS Q1 Results LIVE | “Looking into the next three or four quarters, North America will be the strongest driver, in terms of growth perspective,” TCS CEO Rajesh Gopinathan said, in response to a query during the earnings call.
TCS Q1 Results LIVE | The deal conversion cycle remains “normal”, TCS Chief Operating Officer N Ganapathy Subramaniam said during the earnings call, adding that the company does not see anamolies.
TCS Q1 Results LIVE | The pricing realisation will be on “case by case basis”, TCS’ Chief Financial Officer Samir Seksaria said during the earnings call. CEO Rajesh Gopinathan noted that margins should start looking up from next quarter.
TCS Q1 Results LIVE | “We continue to add employees to build capacity for long term growth,” TCS CEO Rajesh Gopinathan said, during the earnings conference call.
TCS Q1 Results LIVE | Watch: Earnings Call
TCS Q1 Results | Stay tuned for the latest updates from the earnings call at 5:30 pm.
TCS Q1 Results LIVE | “It has been a challenging quarter from a cost management perspective. Our Q1 operating margin of 23.1% reflects the impact of our annual salary increase, the elevated cost of managing the talent churn and gradually normalizing travel expenses. However, our longer-term cost structures and relative competitiveness remain unchanged, and position us well to continue on our profitable growth trajectory,” company’s Chief Financial Officer Samir Seksaria said.
TCS Q1 Resylts LIVE Updates | The workforce of TCS has crossed the milestone of 6 lakh, with the total headcount as of June 30, 2022, stated to be 606,331. The net headcount addition during the quarter was 14,136.
