Tata Consultancy Services (TCS) reported its consolidated financial results for the quarter ending June 30, 2021.
Highlights of the Quarter Ended June 30, 2021
Revenue at $6.154 billion, +2.7 percent QoQ, +21.6 percent YoY
Constant Currency revenue growth: +16.4 percent YoY
Operating Margin at 25.5 percent; expansion of 1.9 percent YoY
Net Income at$1.22 billion, +32.0 percent YoY | Net Margin at 19.8 percent
Net Cash from Operations at$1.39 billion ie 114.3 percent of Net Income
Highest ever quarterly net headcount addition of20,409 |Workforce strength:509,058
Diverse and inclusive workplace: Women in the workforce: 36.2 percent | 155 Nationalities
Building a G&T workforce: 407K+ employees trained in new technologies|19K Contextual Masters identified | 3,500 Elevate graduates
Best in class talent retention: LTM IT Services attrition rate at 8.6 percent; lowest in the industry
Rajesh Gopinathan, Chief Executive Officer and Managing Director, TCS said:“Our business in North America, BFSI and Retail all showed an appreciable growth which underlines the resilience of our operating model.”
Q1 Segment Highlights
All verticals showed good sequential as well as YoY growth.
Growth continued to be led by Life Sciences and Healthcare (+7.3 percent QoQ, +25.4 percent YoY). Retail and CPG also bounced back to double digit growth, growing 4.4 percent QoQ and 21.7 percent YoY.
BFSI (+3.1 percent QoQ, +19.3 percent YoY), Manufacturing (+4.8 percent QoQ, +18.3 percent YoY), Technology & Services (+5 percent QoQ, +12.3 percent YoY) and Communications & Media (+1.7 percent QoQ, +6.9 percent YoY) also saw significantly improved performance.
Growth was led by North America (+4.1 percent QoQ, +15.8 percent YoY), UK (+3.6 percent QoQ, +16.3 percent YoY), Continental Europe (+1.5 percent QoQ, +19.7 percent YoY), Latin America (+4 percent QoQ, +16.1 percent YoY) and Middle East & Africa (+4.2 percent QoQ, +25.3 percent YoY).
TCS said the pandemic’s second wave impacted sequential growth in India (-14.1 percent QoQ, +25.3 percent YoY) and Asia Pacific (+2.4 percent QoQ, +9.3 percent YoY).