TCS Q4 Results 2018: The total attrition rate in Tata Consultancy Services (TCS) fell to 11.8%, while that of IT fell to 11% in the fourth quarter of the fiscal year 2018-19.
TCS Q4 Results 2018: The total attrition rate in Tata Consultancy Services (TCS) fell to 11.8%, while that of IT fell to 11% in the fourth quarter of the fiscal year 2018-19. India’s largest IT services company, beating estimates, posted a net profit of 4.5% on year to Rs 6,904 crore in the quarter ended March.
The company said that its progressive HR policies have resulted in best in class employee retention rates. TCS had 394,998 employees at the end of the fourth quarter on a consolidated basis. “Our core values, progressive policies, people-centric culture and continued investment in competency development empowers Individuals and helps them realize their potential,” said Ajoy Mukherjee, Executive Vice President and Global Head, Human Resources.
“This is at the heart of the can-do attitude and entrepreneurial agility that has distinguished TCS throughout the last fifty years, and which continues to give us an edge in the industry,” he added.
TCS clocked total revenues of Rs 32,075 crore as against Rs 29,642 crore in the same period in the previous year, implying 8.2% rise on the year. Digital Revenue came in at 23.8%, up 42.8% on year.
Taking forward the re-skilling programme, which experts say, are crucial especially for I-T industries to cope up with emerging technologies such as Artificial Intelligence, TCS trained 247,000 employees on digital technologies in FY18, the IT behemoth said in earnings filing on exchanges.
Besides, it also trained 208,000 employees agile methodologies. Moreover, TCS’ board recommended a dividend of Rs 29 per equity share of face value of Re 1 with a bonus issue of equity shares in a ratio of 1:1.