TCS Hiring 2024: IT firm adds 5726 employees in Sept quarter, welcomes 11000 associates in first half of FY25
This sequential increase of 5% percent staffers takes the total headcount at TCS to 612,724 at the end of the second quarter of the 2024-25 financial year.
The net addition of employees during the quarter under review is line with staffing experts’ estimates. Krishna Vij, Business Head- TeamLease Digital had told CNBC-TV18 that as per industry data, major IT services firms were expected to see a 4-6% increase in hiring for Q2 FY25 compared to the previous quarter.
Meanwhile, the attrition rate at the India’s largest IT services firm came in at 12.3% in Q2, marginally higher than 12.1% in the previous quarter.
This is the second consecutive quarter that TCS has seen a net increase in the total number of employees, after its headcount declined in the preceding three quarters.
Milind Lakkad, TCS Chief HR Officer, said. “We welcomed 11,000 associates in the first half of the year, and we remain on track for trainee onboarding as planned. We have also commenced the campus hiring process for FY26. Our strong talent base and increased learning intensity prepares us well for the complex technology transformations that customers entrust us with.”
Meanwhile, Samir Seksaria, Chief Financial Officer, said: that the firm made strategic investments in the second quarter in talent and infrastructure to ensure sustainable growth.
“Our disciplined execution resulted in superior cash conversion. Our longer-term cost structures remain unchanged, and we remain confident in our ability to continue delivering industry leading profitable growth,” he added.
TCS’ revenue in Q2in rupee terms stood at ₹64,259 crore whereas EBIT or earnings before interest and tax came in at ₹15,465 crore, a growth of 0.1% from the June quarter. EBIT margin for the quarter stood at 24.1%, narrowing by 55 basis points.
The IT services major also declared a second interim dividend of ₹10 per share for the financial year 2024-25. The firm has fixed October18, 2024, as the record date for determining the eligibility of shareholders for the purpose and the dividend will be paid out on November 5.
