TCS Q3 Results: Attrition Rises To 13%, Workforce Shrinks By Over 5,000 – News18
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TCS’ workforce stood at 607,354 as on December 31st.
TCS has declared a dividend of Rs 76 per share, including a special dividend of Rs 66 per share.
TCS Q3 Results Today: Tata Consultancy Services (TCS), India’s largest IT services firm, announced its consolidated financial results for the quarter ending December 31, 2024, on Thursday. The attrition rate rose to 13% in Q3, up from 12.3% in the previous quarter.
As of December 31, TCS’ workforce stood at 607,354, reflecting a sequential decline from 612,724 in Q2 of the 2024-25 financial year. This marks a net reduction in employee count after two consecutive quarters of additions.
TCS Q3 Results
The IT services exporter TCS reported an 11.95% jump in net profit to Rs 12,380 crore in the December quarter. The Tata Group company had posted a net profit of Rs 11,058 crore in the year-ago period and Rs 11,909 crore a quarter earlier.
Its total income increased 6.13% to Rs 65,216 crore during the quarter under review from Rs 61,445 crore in the year-ago period and was higher than the preceding September quarter’s Rs 64,988 crore.
The overall expenses grew 6.33% to Rs 48,550 crore from Rs 45,658 crore in the year-ago period.
Additionally, the company declared a dividend of Rs 76 per share, which includes a special dividend of Rs 66 per share.
Milind Lakkad, Chief HR Officer, said, “We promoted over 25,000 associates this quarter which brought the total promotions this financial year to more than 110,000. We continue to invest in employee upskilling and overall well-being. Our campus hiring for the year is going according to plan and preparations are afoot to onboard a higher number of campus hires next year”.
The TCS scrip closed 1.72% down at Rs 4,036.65 apiece on the BSE on Thursday, as against a 0.68% correction on the benchmark.