TCS hits USD 25 bn revenue mark in 2021, Q3 net up 12.2 pc at Rs 9,769 cr

TCS, which hit the $25 billion revenue mark in calendar year 2021, registered Rs 48,885 crore in revenues for the quarter, up 16.3 pc year-on-year (YoY) and Rs 9,769 crore in net profit, a 12.3 pc YoY growth. Total contract value for the quarter stood at $7.6 billion, up 12 pc from Q3 FY21.

All verticals grew in the mid to high teens. Growth was led by Retail and CPG (20.4%), BFSI (+17.9%) and the Manufacturing vertical (+18.3%). Technology & Services grew +17.7%, Life Sciences and Healthcare grew +16.3% and Communications & Media grew +14.4%, TCS said in a release.

Among major markets, growth was led by North America (+18%) and Continental Europe (+17.5%) while UK grew +12.7%. Among emerging markets, growth was led by Latin America (+21.1%) and India (+15.2%), followed by Middle East & Africa (+6.9%) and Asia Pacific (+4.3%), it added.

Q3 witnessed a clear trend of enterprises investing confidently in technology initiatives for longer term growth. There was broad-based growth across all services, led by Cloud, Cyber Security, Consulting and Services Integration and IoT & Digital Engineering, it said.

Rajesh Gopinathan, CEO-MD, said: “Our continued growth momentum is a validation of our collaborative, inside-out approach to our customers’ business transformation needs. Customers love our engagement model, our end-to-end capability, and our can-do approach to problem solving. While mapping out their innovation and growth journeys, we are also helping them execute new-age operating model transformations to support those journeys.”

N Ganapathy Subramaniam, COO-ED, said: “We continued our focus on growing organically and on developing the talent, methodologies, and toolkits for an ever-evolving technology landscape. We are also delighted to cross another important milestone in our journey, hitting the $25 billion revenue mark in CY 2021.” Milind Lakkad, Chief HR Officer, TCS, said “We continue to set new records in talent acquisition. In addition to the 43,000 freshers we hired in H1, we on-boarded 34,000 fresh graduates in Q3 – which is higher than our full year fresher hiring numbers in prior years.” “By continuing to invest in our people, giving preference to internal candidates for exciting open positions, providing global deployment opportunities, and promotions to over 110,000 employees, we have been able to retain our best talent and overcome supply side challenges,” he added.