Can consulting manage Brexit?
Home » News » TCS is a $10 billion company

TCS is a $10 billion company

Mumbai skyline

Mumbai: Tata Consultancy Services, TCS, enjoyed a strong end to its year to March 31, which saw it become the first Indian IT consultancy to become a $10 billion company.

Financial Year highlights

  • Annual Revenues up 24% at $10.17 billion
  • Annual Net Income up 16% to $2.2 billion
  • Infrastructure Services, Enterprise Solutions, BPO units cross $1 billion in revenues
  • $100 million+ clients rise to 14 (8 in FY11)
  • All time high Gross addition: 70,400 employees
  • All time high Net addition: 39,969 employees
  • Total employee strength: 238,583

N. Chandrasekaran, CEO and MD commented, "We have carried our strong momentum through the fourth quarter to close out a year of strong growth. We have kept our focus on profitability and consolidated our market leadership." He added, "With our customer-centric approach, strong solution set and investments in game-changing technologies like mobility, big data and cloud, we remain well positioned to help our customers transform and drive growth in their businesses."

Looking ahead to FY13, Mr N Chandrasekaran said, "TCS is well prepared to achieve balanced growth across the industries and markets it operates in, given its holistic portfolio of services which are now achieving significant scale across markets."

S Mahalingam, Chief Financial Officer and Executive Director, said,"We have grown very well during 2011-12 and also been able to exit the year at the right margin levels, despite the marked increase in volatility during the past 12 months.

"Our focus is firmly fixed on the opportunities out there. So while maintaining our cost discipline at an operational level, we continue to invest in capacity and capability as we prepare for growth ahead."

TCS said it saw consistent growth across markets and industries during the financial year. All industry verticals and service lines grew in double digits during FY12.

People

"We have successfully undertaken the largest ever hiring effort in our history by adding and integrating 70,400 professionals during 2011-12. With business demand continuing to be robust, we have made 43,600 offers on campuses for trainees to join us from the second quarter of this fiscal year", said Ajoy Mukherjee, Executive Vice President, Head, Global Human Resources.

"Our efforts to increase retention by engaging with our employees and offering them a progressive career path are paying dividends with attrition rates falling further to 12.2 per cent."

High utilization rates have been maintained in the fourth quarter with utilization excluding trainees at 80.6 per cent, while utilization including trainees was at 71.3 per cent. The overall attrition rate was lower at 12.2% with IT attrition at a low of 11.05 per cent and BPO attrition at 21.6% on a LTM basis. The campus hiring process in India has been completed for FY12.

The average age of a TCS employee is 28 yrs and 62.4% of the workforce has more than 3 yrs experience while 31.6% of the workforce comprised of women.

Fourth Quarter highlights

  • Q4 Revenues up 2.4% to $ 2.64 billion
  • Net Income up 3% to $585 million
  • Gross addition: 19,156 employees
  • Net addition: 11,832 employees
  • Attrition rate: 12.2 %
  • LTM Utilisation Rate (excluding trainees): 80.6 %
  • Utilisation Rate (including trainees): 71.3 %

Share this article