TCS headcount reduces by 2,197 employees, declines for the first time in 10 quarters
A contraction in the net addition number was seen previously in the first quarter of FY21, which was when India was in a complete lockdown due to the first wave of the pandemic.
The company, which announced its results for Q3FY23 on January 9, said its headcount is currently at 613,974, down from 6,16,171. This is the first time the net addition has declined in 10 quarters. TCS added 9,840 employees during Q2FY23, which was also a significant dip.
DGCA sends notice to Air India over Paris-Delhi flight incidents
In the said flight, a man had urinated on an elderly woman’s blanket while she was away at the lavatory. It has been learned that another man on the same flight had smoked inside the toilet of the Paris-Delhi flight; he was in an inebriated condition.
TCS Q3 Highlights
Net profit: Rs 10,846 crore, up 11% YoY
Revenue at Rs 58,229 crore, up 19.1% YoY, up 13.5% YoY in cc
Order Book at $7.8 billion
Operating Margin contracts by 0.5% YoY
Net Margin at 18.6%
Net headcount addition of -2,197
Total Dividend of Rs 75/share (including Rs 67 special dividend)
TCS COO on Q3 performance:
N Ganapathy Subramaniam, Chief Operating Officer and Executive Director“As I look back at 2022, it’s gratifying to see the privileged partnership that we continue to enjoy with our clients globally. In a hybrid working model we delivered many complex transformation programs tailored to the specific needs of our clients’ ecosystem with speed and agility.
The year also saw us embracing data, AI and ML holistically to disrupt ourselves and drive competitive advantage to our clients’ businesses. All these augur well for our future as we step into 2023.”
TCS HR on hiring:
Milind Lakkad, Chief HR Officer, said: “Our focus over the last few quarters on bringing in fresh talent at scale, training them on new technologies and making them productive is paying off. We are particularly proud of having 125,000 TCSers at middle and senior levels who have been with the company for more than 10 years on average. They have been central to the successful cultural integration of all the fresh talent we have onboarded in the last couple of years, and their contextual knowledge and customer-centricity have been key to the high level of customer satisfaction that TCS is known for.”
TCS CEO on quarterly results:
Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “We are pleased with our strong growth in a seasonally weak quarter, driven by cloud services, market share gains through vendor consolidation, and continued momentum in North America and UK. The sustained strength of demand for our services is a validation of the value we provide to our clients in helping them differentiate themselves, while enhancing their competitiveness. Looking ahead, and beyond current uncertainties, our longer-term growth outlook remains robust.”
TCS Q3 results: Revenue from ops rises 19% YoY, above estimates
Revenue from operations the second quarter ended December 31, 2022 increased 19 percent year-on-year to Rs 58, 229 crore from Rs 48,885 crore in the same quarter last fiscal.
TCS Q3 results: Net profit rises 11% to Rs 10,846 crore; firm declares special dividend of Rs 67 per share
IT bellwether Tata Consultancy Services (TCS) on January 9 reported 11 percent rise in consolidated net profit at Rs 10,846 crore for the quarter ended December 31, 2022. The Tata group-owned company had reported a net profit of Rs 9,769 crore in the year-ago period.
Sequentially, the company’s net profit increased 4 percent in Q3FY23 from Rs 10,465 crore in Q2FY23 mostly on seasonally-weak quarter.
Revenue from operations in the said quarter increases 19 percent year-on-year to Rs 58, 229 crore from Rs 48,885 crore in the same quarter last fiscal.
TCS also stated that its board has approved an interim dividend of Rs 8 per share and special dividend of Rs 67 per equity share for the financial year 2022-2023.
Meanwhile, shares of TCS on Monday (January 9) closed 3.35 percent higher at Rs 3,319.70 apiece on BSE.
Zerodha’s net profit nearly doubles to Rs 2,094 crore in FY22 on 80% rise in operating revenue
The company’s operating revenue surged 82 percent to Rs 4,963 crore in FY22 from a year earlier, according to the filings. Zerodha has not raised a single round of funding to date from external investors.
Zerodha mainly earns revenue by collecting brokerage fees and commissions.
RS Sodhi ousted as Amul MD; Jayen Mehta takes temporary charge
Amul’s Managing Director RS Sodhi’s post was on extension for last 4 years. The dairy major’s Chief Operating Officer (COO) Jayen Mehta has been given temperary charge as MD with immediate effect.
The decision to replace Sodhi as the Amul MD was taken at the Gujarat Cooperative Milk Marketing Federation (GCMMF), board meeting.
Amul will get new MD after a few months, Shankarsinh Rana, chairman of Gandhinagar Madhur Dairy confirmed.
New case COVID-19 XBB 1.5 strain found, total number of variant cases rise to 8: INSACOG
The new case of the strain was found in Uttarakhand in the last 24 hours, while earlier, three cases were found in Gujarat, one each in Karnataka, Telangana, Chhattisgarh and Rajasthan, the Indian SARS-CoV-2 Genomics Consortium (INSACOG) said.
Four cases of Omicron sub-variant BF.7 have been reported in West Bengal, two each in Gujarat and Haryana, and one in Odisha.
Lupin gets approval for reimbursement of pill used to treat Myotonia
Lupin gets approval from Spanish Government for reimbursement of Namuscla (Mexiletine), which is used for the symptomatic treatment of Myotonia.
Agreement enables access to only EU-approved treatment in Non-Dystrophic Myotonic disorders.
Kanjhawala death case | Delhi: Rohini Court grants 14 days of judicial custody of all the six accused.