TCS Q3 Results: IT attrition rate drops further to 13.3% in third quarter; commences campus hiring

livemint.com:

TCS) on Thursday announced its third quarter results. The company reported a net profit of ₹11,432 crore in the September quarter, registering a growth of 8.7 per cent, compared to ₹10,431 crore in the corresponding period last year. Meanwhile the attrition rate declined further to 13.3% during the same period.

Milind Lakkad, Chief HR Officer, said: “The vibrancy and energy levels in our offices are increasing as more and more of our employees are back in the offices. We expect to be back to our normal operating mode by the end of the current fiscal year. Parallelly, attrition is trending down and at 13.3%, is now in our range of comfort.

We are committed to hiring from college campuses and growing talent organically. We have commenced our campus hiring process for the next year and see tremendous excitement among freshers to join TCS." TCS’ workforce stood at 603,305 as on December 31, 2023. The employee base is very diverse, with 35.7% women and with 153 nationalities.

Also Read: TCS Q3 Results Live Updates: Revenue grows 4% YoY, Income rises 8%, dividend at ₹27 per share In Q2, the attrition rate was 14.9% . K Krithivasan, Chief Executive Officer and Managing Director, said: “Our strong performance in a seasonally weak quarter buffeted by macro-economic headwinds, demonstrates the strength of our business model with a well-diversified portfolio and a customer centric strategy. We are seeing strong deal momentum across markets resulting in a solid order book providing visibility into our long-term growth.