TCS revenue up 16.2%, workforce breaches 600K
Multinational IT services and consulting company Tata Consultancy Services (TCS) announced a 16.2% increase in its revenue in its fiscal first quarter ending June 30.
Revenue from continental Europe rose 12.1% while UK revenue grew 12.6%. In TCS’ emerging markets segment, Indian revenue rose 20.8%, Asia Pacific revenue rose 6.2%, Latin American revenue rose 21.6% and Middle East and Africa revenue rose 3.2%.
The India-based firm also reported that its workforce reached a total 606,331 in the same quarter with a net addition of 14,136.
TCS CEO and Managing Director Rajesh Gopinathan said, “We are starting the new fiscal year on a strong note, with all-round growth and strong deal wins across all our segments… Pipeline velocity and deal closures continue to be strong, but we remain vigilant given the macro-level uncertainties.”
TCS Chief HR Officer Milind Lakkad noted employees received salary increases of five to eight per cent, with top performers getting more.
TCS noted it gradually accelerated its return-to-office program in the first quarter. Approximately 20% of its workforce now works from an office.
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