TCS Q3 web revenue rises 12.2% to Rs 9,769 cr; board approves Rs 18,000-cr share buyback programme

Tata Consultancy Services (TCS) on Wednesday reported a 12.2 per cent rise in its consolidated web revenue to Rs 9,769 crore for the December 2021 quarter, and introduced an Rs 18,000-crore buyback supply for its shareholders at Rs 4,500 per scrip.
The nation’s largest software program companies agency had logged a web revenue of Rs 8,701 crore within the year-ago interval.
Revenue of the Mumbai-based agency grew 16.3 per cent within the quarter beneath assessment to Rs 48,885 crore from Rs 42,015 crore within the corresponding interval final fiscal, TCS mentioned in a regulatory submitting.
The board has really useful a shares buyback of Rs 18,000 crore at Rs 4,500 apiece, it added.
“Our continued development momentum is a validation of our collaborative, inside-out strategy to our clients’ enterprise transformation wants. Customers love our engagement mannequin, our end-to-end functionality, and our can-do strategy to downside fixing.

“While mapping out their innovation and growth journeys, we are also helping them execute new-age operating model transformations to support those journeys,” TCS CEO and Managing Director Rajesh Gopinathan mentioned.
The firm has additionally introduced a dividend of Rs 7 per share with the report date being set as January 20, 2022, and the fee date as February 07, 2022.
N Ganapathy Subramaniam, chief working officer and govt director of TCS, mentioned the corporate has crossed an essential milestone of hitting the USD 25-billion income mark within the calendar yr 2021.
TCS Chief Financial Officer Samir Seksaria mentioned, “Our sustained investment in talent has helped us power strong growth despite a challenging supply environment. We remain focused on long-term talent development as well as on tactical measures to mitigate the talent churn.” Seksaria added that the corporate has exercised varied working levers within the third quarter to mitigate the upper prices and handle its worker bills.
The firm added 28,238 staff on a web foundation, taking the full variety of staff to five,56,986 as on December 31, 2021.
Its IT companies attrition charge (LTM) within the third quarter stood at 15.3 per cent.
TCS Chief HR Officer Milind Lakkad mentioned, “In addition to the 43,000 freshers we hired in H1, we onboarded 34,000 fresh graduates in Q3 — which is higher than our full-year fresher hiring numbers in prior years.” Lakkad added that the corporate has been capable of retain its finest expertise and overcome supply-side challenges, “by continuing to invest in our people, giving preference to internal candidates for the most exciting open positions, providing global deployment opportunities, fast track career paths linked to learning, and promotions to over 110,000 employees”.