Tata Consultancy Services annual revenue hits $13.4B

Net income for global outsourcing giant was $3.1 billion, up 22.9 per cent year-on-year

IT services giant, Tata Consultancy Services (TCS), has reported annual global revenue of $13.4 billion for the 12 months ending March 31, up 16.2 per cent year-on-year.

The strong result was led by sales growth across Europe, the UK and North America. The company’s annual net income was $3.1 billion, up 22.9 per cent year-on-year. TCS now has 24 clients worldwide spending $100 million or more with the company, up from 17 in 2013.

In a statement, CFO at TCS, Rajesh Gopinathan, said the company improved its profitability to industry leading levels despite macro and currently volatility through the year.

Initiatives over the past year included the launch of an “all-female” Business Process Service centre in Saudi Arabia, a 10,000 seat campus in Gujarat in India, and a learning centre of the same size in Trivandrum.

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The company trained and hired 61,200 staff during the financial year, and now employs 300,464 employees globally.

"With business demand continuing to be robust, we have made almost 25,000 fresh offers on engineering campuses for trainees who will join us from the second quarter of the new fiscal year," said Ajoy Mukerjee, executive VP, head, global human resources at TCS.

"We continue to build a next-generation organisation that is social, engaged and collaborative and these efforts are having a positive impact, with retention rates rising in the last financial year. Employees are seeing TCS as an organisation that offers them a progressive career path.”

TCS' overall attrition rate was 11.3 per cent during the last 12 months, with IT attrition at a low of 10.4 per cent. In its Business Process Services group, attrition was 14.9 per cent.

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