TCS Profit Increases 17 Percent To Rs 11,074 Crore, Salary Hike Given By Company

The country’s largest software company Tata Consultancy Services (TCS) reported a 17 per cent year-on-year rise in consolidated net profit at Rs 11,074 crore in the June quarter. The consolidated revenue of the company has increased by about 13 percent and is Rs 59,381 crore.

However, the company’s revenue grew by only 0.4 per cent on a quarter-on-quarter basis and profit declined by almost three per cent as compared to the previous quarter. The company’s order book is around $10.2 billion. TCS has suffered a setback in terms of operating margin. It has declined by 1.30 percent as compared to the previous quarter. K Krithivasan, managing director, TCS, said, “With the emergence of new technologies, we are confident of sustained demand for our services over the long term. We are investing aggressively to strengthen capacity in these new technologies.”

In the last quarter, the company’s profit has been affected by the increase in salary and increase in some other costs. TCS has given 12-15 per cent hike in salary to the top performing workers. Last month, the scam of taking bribe in lieu of job in TCS was detected. Tata Sons and TCS chairman N Chandrasekaran had said that he was shocked by the disclosure of six workers of the company taking commission from staffing firms. At TCS’s 28th Annual General Meeting, Chandrasekaran assured shareholders of strict measures to deal with over 1,000 staffing firms so that such incidents do not recur.

“Ethical conduct and integrity of every worker is of paramount importance before any financial performance for any Tata Group company. We are shocked whenever a worker violates ethical conduct. We take it very seriously. ” Chandrasekaran said that two whistleblower complaints were received in this matter. The company has sacked six workers and blacklisted six staffing firms regarding this. Apart from this, investigation is being done against three other workers. “We cannot determine what benefits these workers received, but they certainly behaved in ways that benefited some firms,” ​​he said.

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