Stellar Q3 Helps TCS Hit $25 Bn in Annual Revenue

 

January 14, 2022: Tata Consultancy Services (BSE: 532540, NSE: TCS) reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending December 31, 2021.

 

Highlights of the Quarter Ended December 31, 2021

• Revenue at $6.524 billion, +14.4% YoY; +15.4% CC YoY

• Industry-Leading Operating Margin at 25%; -1.6% YoY

• Net Income at $1.303 billion, +10.5% YoY | Net Margin at 20%

• Strong Client Addition: 10 New $100Mn+ Clients (total: 58); 21 new $50Mn+ clients (total: 118)

• Net Cash from Operations at 111.1% of Net Income

• Net headcount addition of 28,238 |Workforce strength: 556,986

• Diverse and Inclusive: Women Employees Exceed 200,000; +68% growth in number of senior women executives during 2016-21 | 156 Nationalities in the workforce

• Building a G&T workforce: 100K+ market relevant skills gained in Q3 | 38K+ Contextual Masters identified 

• LTM IT Services attrition rate at 15.3%; lowest in the industry 

• Board recommends a buyback of shares to the tune of  ' 18,000 Cr at ' 4,500 per share

• Dividend per share: ' 7.00 | Record date 20/01/2022 | Payment date 07/02/2022

 

Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “Our continued growth momentum is a validation of our collaborative, inside-out approach to our customers’ business transformation needs. Customers love our engagement model, our end-to-end capability, and our can-do approach to problem solving. While mapping out their innovation and growth journeys, we are also helping them execute new-age operating model transformations to support those journeys.” 

 

N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: “We continued our focus on growing organically and on developing the talent, methodologies, and toolkits for an ever-evolving technology landscape.  This, coupled with our contextual knowledge and the passion and commitment of thousands of TCSers enabled us to deliver cutting-edge solutions during the quarter, and help our clients realize speed to value. We are also delighted to cross another important milestone in our journey, hitting the $25 billion revenue mark in CY 2021.”

Samir Seksaria, Chief Financial Officer, said: “Our sustained investment in our 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. We have exercised various operating levers in Q3 to mitigate the higher costs and manage our employee expense.”