TCS crosses 4-lakh employee mark; women in workforce up by 35.6%; all details here
Total employee strength at the end of Q1 crossed the 400k mark and stood at 401,875 on a consolidated basis.
IT-giant Tata Consultancy Services surpassed analysts estimates in both top-line and bottom-line growth during Q1FY19. The company posted net profit of Rs 7,362 crore up by 23.73% from Rs 5,950 crore in Q1FY18 and up by 6.31% from Rs 6,925 crore in Q4FY18. It further recorded revenue of Rs 34,261 crore above 15.81% from Rs 29,584 crore in Q1FY18 and higher by 6.82% from Rs 32,075 crore in Q4FY18.
A Bloomberg poll of analysts had predicted TCS profit and revenue at Rs 7,018 crore and Rs 33,979 crore during Q1FY19.
Considering this stellar performance, investors have shown their happiness over TCS stock price. At around 1247 hours, TCS share price was trading at Rs 1,952.90 per piece above Rs 75.90 or 4.04%. The company has marked a new high of Rs 1954.90 per piece on stock exchanges, which would mean a gain of over 4.15% so far in today's trading session.
Interesting factor was the workforce TCS has managed to achieve by end of Q1FY19.
Total employee strength at the end of Q1 crossed the 400k mark and stood at 401,875 on a consolidated basis. The percentage of women In the workforce rose further to 35.6%, while the total number of nationalities represented grew to 143 .
The company's strategy of organic talent development resulted in a cumulative 11 million learning hours, and training of over 264k employees in digital technologies, and over 242k employees in Agile methods. The IT Services attrition rate (LTM) fell further by 0.1% In Q1 to 10.9%, while the total attrition rate (including BPS) fell to 11.7%.
Ajoy Mukherjee, Executive Vice PresIdent and Global Head, Human Resources said, “"We continue with our investments in upgrading the technology skills of our people, while leveragIng their contextual knowledge and domain experience. This has resulted in not only a very nurturing and dynamic work environment, but also a strong digItal solutionlng capability that delivers differentIated outcomes for our customers.”
However, for these, TCS bears an employee benefit expenses of Rs 18,548 crore in Q1FY19, which rose from previous Rs 17,183 in Q4FY18 and Rs 66,396 in Q1FY18.