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IT major Tata Consultancy Services on Monday said that it has nearly 1.25 lakh employees are associated the with company for over 10 years.
"We are particularly proud of having 125,000 TCSers at middle and senior levels who have been with the company for more than 10 years on average," said TCS.
TCS workforce stood at 613,974 by end of the December 2022 quarter. This would be a net reduction of 2,197 employees compared to a headcount of 616,171 employees in the September 2022 quarter, according to its regulatory filing.
The attrition rate for the quarter ending December 31, 2022, inched lower to 21.3%.
TCS said the improved productivity was achieved by focusing on utilizing the excess capacity built up over prior quarters and through investments in organic talent development. In Q3, TCSers clocked 11.4 million learning hours, resulting in the acquisition of 1.3 million competencies.
"Our focus over the last few quarters on bringing in fresh talent at scale, training them on new technologies and making them productive is paying off. We are particularly proud of having 125,000 TCSers at middle and senior levels who have been with the company for more than 10 years on average. They have been central to the successful cultural integration of all the fresh talent we have onboarded in the last couple of years, and their contextual knowledge and customer-centricity have been key," said Milind Lakkad, Chief HR Office.
TCS net profit for the December quarter rose by nearly 11% to ₹10,846 crore as compared to ₹ ₹9,806 crore in the year-ago quarter.
The consolidated revenue from operations came in at ₹58,229 crore, up 19.11 percent against ₹48,885 crore.
"We are pleased with our strong growth in a seasonally weak quarter, driven by cloud services, market share gains through vendor consolidation, and continued momentum in North America and UK. The sustained strength of demand for our services is a validation of the value we provide to our clients in helping them differentiate themselves, while enhancing their competitiveness. Looking ahead, and beyond current uncertainties, our longer-term growth outlook remains robust to the high level of customer satisfaction that TCS is known for," said Rajesh Gopinathan, Chief Executive Officer and Managing Director.
The company has announced a dividend and special interim dividend of ₹75 per equity share for fiscal FY23.
The share price of TCS jumped today ahead of the earnings announcement. Shares of TCS surged 3.35% to settle at ₹3,319.70 apiece on the BSE on Monday.