India’s largest IT services company TCS declared its Q4FY23 financial results on April 12. Apart from financial results, the TCS board also announced the final dividend for 2022-23 at its 28th annual general meeting. TCS’ net profit had stood at Rs 9,959 in the corresponding period last year (Q4 FY22).
In terms of TCS’ Q4 hiring update, its global employee headcount stands at the end of Q4 is 6,14,795.
821 net additions were done during the quarter after decline of 2,197 in the last quarter.
LTM attrition dropped by 120 basis points and is at 20.1%.
Also Read: TCS Q4 Results: Net Profit Rises 14.8% YoY To Rs 11,436 Crore, Revenue Up 17%, Rs 24 Dividend Declared
In Q3FY23, TCS reduced its workforce by 2,197 employees to 613,974, compared to the headcount of 616,171 employees in the September 2022 quarter.
Also, the company’s IT services attrition rate dipped to 21.3% on an LTM basis in Q3FY23 which was lower than 21.5% in Q2FY23. The attrition rate “is expected to fall further in the coming quarters,” TCS had said then.
Moreover, in the Q4 results, the company’s board recommended a final dividend of Rs 24 per equity share.
The IT major has reported 14.8% jump YoY in its net profit to Rs 11,436 for the quarter ended March 2023 (Q4 FY23). The revenue from operations of India’s largest IT services company also rose 16.94% to Rs 59,162, compared with Rs 50,591 crore in the year-ago period.
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