TCS hired 40,185 in FY21, outlook seems bright

The IT company also reported an all-time low attrition rate for FY21 at 7.2%

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With the pandemic raising the demand for techies, Tata Consultancy Services experienced an all-time low attrition rate of 7.2 per cent for FY21. Its total workforce strength has gone up to about 488,649. The Indian technology major hired 40,185 people in FY21, amidst the uncertain times that impacted businesses worldwide.

In fact, the Company made the maximum addition of employees ever in a single quarter, of 19,388 people, in the fourth quarter. It intends to continue hiring actively in times to come, for fresh talent from campuses as well as from the market.

The tech major plans to focus on accessing new markets, close new deals and carry out successful M&As after an excellent Q4, FY21 performance amidst a challenging 2020.
It reported a growth in net profit for Q4, FY21, by 14.9 per cent, to Rs 9,246 crore. The operating margin expanded marginally sequentially (0.2 per cent) to 26.8 per cent, that is, a one per cent year on year increase.

The Company had retuned over Rs 30,000 crore in cash to shareholders through buybacks and dividends. It had, not long ago, announced aRs 16,000 crore buyback plan in which the parent firm, Tata Sons tendered shares worth Rs 10,000 crore.

It has announced a final dividend of Rs 15 per equity share to its shareholders. The company’s board has recommended a final dividend, taking the total dividend payout, to Rs 38 per share during FY21. Earlier, it had paid interim dividends of Rs 5 per share, Rs 12 per share, and Rs 6 per share in the last three quarters of the previous fiscal.

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