TCS Hires 20,000 Freshers in First Half of FY23, to Hire Over 10,000 More

IT major Tata Consultancy Services has hired 35,000 freshers during the first half of FY23. Out of these, 20,000 freshers has been hired in the second quarter this year, the company announced on October 10. The number, however, is lower, compared to FY22 when TCS had hired 43,000 freshers in the first half. During the full year, it had recruited over 1 lakh.

The company now expects to hire 10,000 to 12,000 more freshers in FY23, but will decide on its new targets for fresher hiring post the third quarter, reported For the September quarter, as many as 9,840 employees were hired by TCS, taking its headcount to 6,16,171. In the previous quarter, the net addition of employees by the company was 14,136. Prior to that, 19,690 employees were recruited.

TCS chief HR Officer Milind Lakkad said in a statement that the company has honoured all job offers the company had made. “Reflecting our culture of being committed to our employees, we have honored all the job offers we had made. Our investments in capacity building and organic talent development have allowed us to substantially grow our business ahead of headcount addition this quarter. We believe our quarterly annualized attrition has peaked in Q2 and should see it taper down from this point, while compensation expectations of experienced professionals moderate,” said Lakkad.

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Meanwhile, on Monday, TCS reported a consolidated net profit of Rs 10,431 crore for the September 2022 quarter, a jump of 8.4 per cent on a year-on-year basis. The company’s revenue during April-June 2022 rose 18 per cent to Rs 55,309 crore, compared with Rs 46,867 crore in the year-ago period. The company’s net profit had stood at Rs 9,624 crore in the corresponding period of the previous financial year.

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TCS’ net profit witnessed a 10.05 per cent jump from Rs 9,478 crore in the previous quarter. There has been a 4.83 per cent rise in revenue on a quarter-on-quarter basis from Rs 52,758 crore, as per a BSE filing. TCS’ total expenses during the second quarter of FY23 jumped 20.47 per cent to Rs 42,178 crore, as compared to Rs 35,009 crore earlier. The company’s earnings per share during July-September 2022 stood at Rs 28.51 , higher as compared with Rs 26.02 in the September 2021 quarter.

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