TCS closes FY23 with Rs 42,147 crore profit

Software major Tata Consultancy Services Ltd (TCS) on Wednesday said it had closed FY23 with a revenue of Rs 225,458 crore and a net profit of Rs 42,147 crore. The company Board at its meeting has recommended a final dividend of Rs.24 per equity share of Re 1 each for FY23. For the fourth quarter of FY23, TCS had logged a revenue of Rs 59,162 crore and a net profit of Rs 11,392 crore. At the year end, TCS had a head count of 614,795 with the software employees attrition rate of 20.1 per cent. The company’s net addition of employees during FY23 was 22,600. Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “It is very satisfying to look back at our strong growth in FY 2023, on top of the mid-teen growth in the prior year. The strength of our order book demonstrates the resilience of demand for our services and gives us visibility for growth in the medium term.” According to N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, during Q4 and through the year, the company successfully delivered transformation programmes of varying size and scale. “Cloud and Data continue to generate huge demand both internally from a talent perspective and externally from a solutions point of view. We are embracing AI/ML holistically in our execution methods to leverage the huge data and metrics that we have on our delivery performance over decades, to generate insights and raise the bar on quality and experience to our clients,” Subramaniam said. Milind Lakkad, Chief HR Officer, said: “We are honouring all job offers, and have added 22,600 employees on a net basis in FY 23. During the year, we onboarded over 44K (44,000) freshers and our highest-ever number of experienced professionals.”