Business Wire

TATA-CONSULTANCY

8.10.2021 18:42:10 CEST | Business Wire | Press release

Share
Broad-based Demand, Resilient Margins Power Strong Earnings Growth in Q2 for TCS

Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading global IT services, consulting and business solutions organization, reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending September 30, 2021.

Highlights of the Quarter Ended September 30, 2021

  • Revenue at $6.333 Bn , +16.8 % YoY; +15.5% CC YoY
  • Operating Margin at 25.6% ; +0.1% QoQ, -0.6% YoY
  • Net Income at $1.301 Bn , +14.0% YoY | Net Margin at 20.5%
  • Strong Client Addition: 5 New Clients (total: 54 ) in $100Mn+; 17 new clients (total: 114 ) in $50Mn+
  • Net Cash from Operations at $1.344 Bn ie 103.3% of Net Income
  • Net headcount addition of 19,690 | Workforce strength: 528,748
  • Diverse and inclusive: Women in the workforce: 36.2% | 157 Nationalities
  • Building a G&T workforce: 417K+ employees trained in new technologies | 26K+ Contextual Masters identified | 6,900+ Elevate graduates
  • Best in class talent retention: LTM IT Services attrition rate at 11.9% ; lowest in the industry
  • Dividend per share: INR 7.00 | Record date 19/10/2021 | Payment date 03/11/2021

Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “The strong and sustained demand environment is a once-in-a-decade opportunity to position ourselves as the preferred growth and transformation partner for our customers. We are using the growth tailwind to invest in strengthening relevant capabilities and building out a comprehensive portfolio of offerings that caters to a broader set of stakeholders in the enterprise across business cycles, strengthening our brand, and making our business more resilient. We believe this is the most sustainable pathway to create longer term value for all our stakeholders.

N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: “We are pleased with our overall delivery performance during the quarter, where several large complex programs across verticals went live, thanks to the passion, energy, and commitment of our people. These include programs such as contact-less payments, card-less withdrawal of cash from ATMs for leading banks, space-range-display transformation for retailers, one of the largest application transformations to public cloud native architecture, all leveraging our automation led G+T framework, agile methods and toolkit. Our products and platforms, TCS BaNCS®, Quartz SmartLedgers™, TwinX™ and TCS Cognix™, all had marquee wins during the quarter and are increasingly driving business and operating model transformations in many markets.”

Samir Seksaria, Chief Financial Officer, said: “Strong growth and disciplined execution helped us overcome headwinds from currency and supply-side inflation and deliver expanded margins. Our industry-leading profitability and strong cash conversion give us the wherewithal to make the right investments needed to build out the business of the future.

Research and Innovation

As on September 30, 2021 , the company has applied for 6,169 patents, including 180 applied during the quarter, and has been granted 2,100 patents.

Human Resources

The company’s ability to attract and retain talent at scale, and its continued investments in organic talent development, have enabled it to fulfill much of the incremental demand in newer technologies using internal candidates. Employees logged over 14.3 million learning hours in Q2. Over 496,000 employees have been trained in Agile methods and over 417,000 employees have been trained on multiple new technologies.

TCS added 19,690 employees on a net basis in Q2, taking the total employee base to 528,748 as of September 30. It continues to be a very diverse workforce, comprising 157 nationalities and with women making up 36.2% of the base.

TCS’ philosophy of investing in people and its progressive workplace policies have resulted in industry-leading talent retention. IT Services attrition rate (LTM) was at 11.9% , the lowest in the industry.

“This has been a fulfilling quarter in more ways than one. We brought on board a record number of 43,000 fresh graduates in the last six months. Our Shift-Left training strategy has helped us significantly accelerate their deployment. Investing ahead of time in building our own pipeline of talent has helped us overcome supply-side challenges, and meet the execution timelines of our customers’ growth and transformation programs. By focusing on organic talent development and by linking learning with careers, we have kept employee satisfaction levels high. At the same time, we continue to scale up programs like Contextual Masters and Elevate to groom the G&T leaders for the workforce of tomorrow,” said Milind Lakkad , Chief HR Officer. With 70% of TCSers fully vaccinated, and over 95% having received at least one dose, we plan to gradually get our workforce back in office by the end of this year.”

IFRS Financial Statements

Consolidated Statements of Comprehensive Income

For the three-month periods ended September 30, 2020, and September 30, 2021

(In millions of $, except per share data)

Three-month periods ended
September 30, 2020

Three-month
periods ended
September 30, 2021

Ex Adj.

Reported

Revenue

5,424

5,424

6,333

Cost of revenue

3,205

3,205

3,773

Gross margin

2,219

2,219

2,560

SG & A expenses

797

962

938

Operating income

1,422

1,257

1,622

Other income (expense), net

101

101

131

Income before income taxes

1,523

1,358

1,753

Income taxes

378

342

448

Income after income taxes

1,145

1,016

1,305

Non-controlling interests

4

4

4

Net income

1,141

1,012

1,301

Earnings per share in $

0.30

0.27

0.35

Consolidated Statements of Financial Position

As of March 31, 2021, and September 30, 2021

(In millions of $)

 

As of March 31,

2021

As of September 30,

2021

Assets

Property and equipment

1,653

1,606

Right-of-use Assets

1,040

1,073

Intangible assets and Goodwill

603

594

Accounts Receivable

4,106

4,425

Unbilled Revenues

1,490

1,552

Investments

4,002

5,243

Cash and Cash equivalents

934

700

Other current assets

3,102

3,057

Other non-current assets

1,173

1,201

Total Assets

18,103

19,451

Liabilities and Shareholders' Equity

Shareholders' Funds

12,065

13,346

Other current liabilities

4,651

4,723

Other non-current liabilities

1,293

1,290

Non-controlling interests

94

92

Total Liabilities

18,103

19,451

About Tata Consultancy Services

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 528,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com .

Link:

ClickThru

Social Media:

https://www.facebook.com/TataConsultancyServices

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

NIQ and INTAGE HD Partner to Expand Retail Measurement Across Japan and Global Markets24.4.2026 04:00:00 CEST | Press release

NielsenIQ (NYSE: NIQ), a leading consumer intelligence company, and INTAGE HOLDINGS Inc. (hereafter "INTAGE HD"), a leading market research company in Japan, today announced a mutual sales partnership to expand access to retail measurement insights between Japan and global markets. Through the collaboration, NIQ and INTAGE HD bring together complementary strengths— INTAGE HD’s deep local retail store panel data and insights into the Japanese domestic market, and NIQ’s global and regional retail store panel data and insights into various international markets—to enable better comparison and understanding of market performance and trends across countries and regions. This collaboration enhances both companies’ ability to support clients with more consistent and comparable insights, helping clients unlock growth opportunities across markets. The collaboration enables global clients to access INTAGE HD’s nationwide retail store panel data in Japan (SRI+ and SRI+EC) to support market entry

Andersen Global styrker sin vestafrikanske platform med tilføjelsen af et medlemsfirma i Ghana24.4.2026 03:46:00 CEST | Pressemeddelelse

Andersen Global fortsætter sin ekspansion i Afrika, hvor Lima Partners tilslutter sig som medlemsfirma og introducerer Andersen-navnet i Ghana. Det nuværende Andersen in Ghana blev stiftet i 2014, har hovedkontor i Accra og ledes af administrerende partner Daniel Addo Okoe. Firmaet tilbyder et komplet udvalg af professionelle services, herunder skatterådgivning, regulatorisk compliance, regnskab og rådgivning, transfer pricing, lønadministration, immigration og selskabsretlige sekretærydelser til både lokale og internationale klienter, der opererer i Ghana og den bredere vestafrikanske region. "At indtræde som medlemsfirma i Andersen Global markerer en betydelig milepæl for vores organisation," udtalte Kwame Amporful, seniorpartner hos Andersen in Ghana. "Vores kunder vil få glæde af forbedrede kompetencer på tværs af landegrænser, samtidig med at de beholder adgangen til praktisk kvalitetsrådgivning, der er skræddersyet til markedet i Ghana.” "Ghana spiller en afgørende rolle i at fre

Pacífico Mexinol Celebrates the Symbolic Groundbreaking in Topolobampo, Positioning Mexico in the New Low-Carbon Chemical Industry24.4.2026 02:29:00 CEST | Press release

The initiative brings together governments, diplomats, and global investors around a Net Zero industrial model. The project establishes Topolobampo, Sinaloa as a key hub for industrial development in North America. The Pacifico Mexinol project (“Mexinol”) celebrated the beginning of its pre-construction phase by symbolically laying a first stone, marking the start of one of the most significant global industrial investments in blue and ultra-low carbon methanol. The event brought together diplomats, authorities, and national and international business leaders, reflecting the project’s strategic importance for Mexico and its integration into the emerging low-carbon economy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260423775301/en/ Adolfo Murietta, Project Shareholder; Rommel Gallo, CEO Transition Industries; Ron Johnson, United States Ambassador to Mexico; Drew Hoster, Counsel General of the United States in Hermosillo,

The New World ID: Proof of Human for the AI Era Scales Across the Digital Platforms People and Businesses Use Every Day24.4.2026 02:20:00 CEST | Press release

Docusign, Okta, Tinder, Vercel, and Zoom bring World ID proof of human to businesses, AI agents, and consumers Last week, World announced the next generation of World ID, its proof of human protocol, designed to increase trust on the internet. The announcement was made during “Lift Off,” a live event in San Francisco. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260417530721/en/ Docusign, Okta, Tinder, Vercel, and Zoom bring World ID proof of human to businesses, AI agents, and consumers As AI makes it easier than ever to generate convincing content, identities, and interactions, trust online has decreased. World ID addresses this challenge by enabling individuals to privately prove they are a real, unique human, without revealing their identity across apps, platforms, and services. “If anything online can be faked, you no longer know who or what to trust,” said Tiago Sada, Chief Product Officer at Tools for Humanity, a co

Cognite Positioned as a Front Runner in LNS Research Solution Selection Matrix for Industrial AI Platforms23.4.2026 20:00:00 CEST | Press release

Cognite, the global leader in Industrial AI, has been named a Front Runner in the LNS Research Solution Selection Matrix for Industrial AI Platforms (SSM). The LNS Research SSM evaluates vendors using a rigorous methodology that leverages its “3P” framework—Product, Potential, and Presence—to assess both current capabilities and future readiness. Within the report, Cognite is recognized in three key areas: depth in user-centric industrial AI applications, its knowledge graph-based data model, and its strong partner ecosystem. Together, all three give Cognite the ability to unify and contextualize complex industrial data, enabling organizations to operationalize AI at scale. “Cognite brings a sophisticated data model built for industrial complexities, along with advanced analytics and AI-driven insights, which is crucial for industrial organizations to achieve meaningful productivity gains and enterprise-wide ROI,” said Vivek Murugesan, Research Analyst at LNS Research. “These capabilit

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye