Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Tata Consultancy Services (TCS) has announced a second salary hike for its employees within a span of six months.</li><li>Last year in October, the IT major increased salaries by 6% to 8%.</li><li>This time around the company plant to hike wages by the same amount resulting in a cumulative boost of 12% to 14%.</li></ul>India’s biggest information technology (IT) services company, Tata Consultancy Services (TCS), is set to dole out a second round of increments for its employees within a span of six months. The last salary hike was announced by the IT major in October last year, where the increase in wages was between 6% to 8%. Sources told Business Insider, on the condition of anonymity, that the salary increments will be around the same this time around as well. This means employees will have received a cumulative boost of around 12% to 14%. “We can confirm that we are on track to give increments to all associates across our geographies effective April 2021, in line with our benchmarks,” a TCS spokesperson told Business Insider. This comes after TCS’ attrition rate dropped to a record low of 7.6%, as of 31 December 2020. The company currently has 4,69,261 employees under its wing after adding 15,000 more to its roster between the months of September to December. According to Milind Lakkad, head of human resources at TCS, over 96% of the company’s employees were still working from home before the New Year with only 3.4% in office. Despite the challenges caused by the COVID-19 pandemic, TCS reported its strongest Q3 growth in nine years in 2020. SEE ALSO: <a href="https://www.businessinsider.in/policy/news/indias-supreme-court-looks-into-allegations-of-nearly-four-crore-ration-cards-being-cancelled-because-they-were-not-aadhaar-linked/articleshow/81570339.cms">A Dalit mother lost her ration card and then her child to starvation — her fight for justice has now become a national cause at the Supreme Court</a> <a href="https://www.businessinsider.in/international/news/japan-is-the-only-country-that-does-not-allow-same-sex-marriage-within-the-g7/articleshow/81563467.cms">Japan’s same-sex marriage ban ruled ‘unconstitutional’ as India’s LGBTQ community waits in hope</a> <a href="https://www.businessinsider.in/science/space/news/finnish-photographer-jp-metsavainio-took-over-a-decade-and-1000-hours-of-photography-to-create-this-picture-of-the-milky-way-and-20-million-stars/slidelist/81563516.cms">It took over a decade and 1,000 hours of photography to create this picture of the Milky Way</a>

TCS to dole out a second salary hike within a span six months

Matching the IT industry standards, India's third largest <keyword id="142326" type="UNKNOWN" weightage="60" keywordseo="software-exporter">software exporter</keyword> Wipro announced average salary hike of 7%. The hike is in line with its rivals <keyword id="6357585" type="CITY" weightage="80" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (<keyword id="6357150" type="CITY" weightage="80" keywordseo="TCS">TCS</keyword>) and <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword>' announcements earlier this year. 
 

	TCS announced average salary hike of about 8% for its employees in India, while India’s second largest software exporter Infosys rolled out average wage increase of 6.5% in March, reports the Economic Times. "The <keyword id="102005" type="COMPANY" weightage="80" keywordseo="Wipro-Ltd-">Wipro Ltd.</keyword> has announced a salary increase for eligible employees, effective June 1, 2015. The average salary hike would be 7% for offshore employees and 2% for onsite employees, respectively, with high performers being rewarded with substantially higher increases in their compensation," said Saurabh Govil, global head - Human Resources, Wipro Limited. 
	 

	Wipro also raised the fixed pay salary component at the junior and mid-management levels. The <keyword id="6368235" type="ORGANIZATION" weightage="80" keywordseo="IT-services">IT services</keyword> segment of Wipro has a headcount of 158,217, as of March 31, 2015. 
	 

	The company said, earlier, that it would give double-digit salary hikes to top performers. 
	 

	According to experts, employees in the IT sector are expected to get a 8%-10% average salary hike this year, but a top performer who has the right mix of technology and domain skills can expect more than double the average hike, going up to about 25% or even higher in some cases. 
	 
	(Image: Indiatimes)

Wipro announces average salary hike of 7%

<ul><li>Indian IT services giant <keyword id="6357150" type="General" weightage="100" keywordseo="tcs" source="Orion">TCS</keyword> reported a subdued first quarter of FY23, with its profit missing analyst estimates.</li><li>The company also reported an increase in attrition rates and a slowdown in hiring, reflective of a challenging business environment.</li><li>It revealed that its headcount is now over 6 lakh, despite 1 in 5 employees quitting in the June quarter.</li></ul>India’s largest tech company TCS today saw the full impact of resignations, churn and the resultant salary hikes for the quarter — all of which shaved off its profit margins by 150 basis points. Even in this high cost regime, the company chose to add employees - with net additions touching 14,136 over the last quarter. And, it also crossed a milestone of 6 lakh employees – and its total headcount is now at 6,06,331. That means it added 155 new employees every day. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Quarter </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Attrition rate </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY22 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">8.6% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY22 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">11.9% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Q3 FY22 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">15.3% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">17.4% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19.7% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Source: Company reports Last quarter, it added over 35,000 employees. This is also a reflection of the number of people who have been quitting, as its attrition rate hit the highest at 19.7% — that’s more than double of what it was in the same quarter last year. TCS admits that it’s a grave problem, but it will continue to ‘spend’ money to acquire talent. “We are making these investments to capture demand,” said Rajesh Gopinath, the CEO of TCS, at the earnings press conference. <cmsannotation type="cmsannotation" annotationid="Salary hikes in 5-8% range but top performers got better hikes" comment="subhead" text="Salary hikes in 5-8% range but top performers got better hikes">Salary hikes in 5-8% range but top performers got better hikes</cmsannotation> The company said its employees received salary hikes ranging between 5-8%, while top performers got even bigger hikes — without divulging details. Overall, TCS has set a target of hiring 40,000 freshers this year. This went down from the 1 lakh target it had set last year. However, the company said it is on track to achieve its FY23 fresher hiring target. TCS said that its workforce is diverse, comprising 153 nationalities and with women making up 35.5% of the base. It also claims to invest in organic talent development. “In the first quarter, TCSers clocked 12 million learning hours, resulting in the acquisition of 1.7 million competencies,” the company said in a press release. It also accelerated its ‘return to office’ programme in Q1, with about 20% of the workforce now working from the office. Tata Consultancy Services or TCS posted a 5% growth in net profits in the first quarter of FY23 at ₹9,478 crore; but its net profits fell by 5% on a quarterly basis – as it was hit by increased costs most of which was employee benefits. Its travel costs too ate into the profits even as its revenues grew by 16% on a yearly basis. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/dmarts-growth-momentum-could-be-impacted-by-high-inflation/articleshow/92747965.cms">DMart has more stores and no disruptions like it wanted – and investors are excited</a> <a href="https://www.businessinsider.in/india/news/not-just-crude-gold-silver-and-even-wheat-and-edible-oil-prices-are-going-down-in-india/articleshow/92748130.cms">It’s not just crude, gold, silver and even wheat and edible oil prices are going down</a> <a href="https://www.businessinsider.in/business/auto/news/why-investors-are-giving-mm-and-tata-motors-ev-businesses-the-same-value/articleshow/92742893.cms">Tata Motors sells 100x more EVs than M&amp;M – but both are valued at around $9 billion</a>

TCS crosses the 6 lakh employee milestone even as 1 in 5 quit in the first quarter

<ul><li>Infosys recently gave away 50 million shares as <keyword id="81701" type="PERSON" weightage="20" keywordseo="stock-options">stock options</keyword>, accounting to 1.15% of its total shares, to a large base of employees. </li><li>This year, Infosys gave 6% salary hike to 85% of its employees. </li><li>Tata Consulting Services (TCS) gave 2-6% hike for 2019. </li></ul>IT companies have been running out of options to retain their talent. Neither are they unable to give double digit salary hikes, nor are they able to lure them in with<a href="https://economictimes.indiatimes.com/nri/visa-and-immigration/h-1b-extension-rejections-rob-indian-it-firms-of-visa-power/articleshow/68312136.cms"> overseas opportunities</a>--thanks to record high visa rejections. During these difficult times, the country’s second largest IT company, Infosys might just have another plan up its sleeve. It recently gave away 50 million shares as employee stock options (eSOPs), accounting to 1.15% of its total shares, to a large base of employees. “In the last 2-3 years salary hikes have not been very good. Added to that, the number of overseas opportunities have also been lower because of fewer H1B visa approvals. So a large stock option plan across a large share of employees is a good plan,” commented Mohandas Pai, the former CFO and HR head of the company, who is now a startup investor. This year, Infosys gave 6% salary hike to 85%<a href="https://www.business-standard.com/article/companies/infosys-to-roll-out-6-annual-hike-for-india-staff-1-5-for-onsite-workers-119041201335_1.html"> of its employees</a>. Its peer, Tata Consulting Services (TCS) did no better with 2-6% hike for the same year. Infosys has a high rate of attrition at a little over 20%, and Pai believes that the company has been losing their employees to large MNCs. As newer technologies are being adopted by companies and clients, it is imperative for IT majors to retain their digital talent. Yet, few have been able to provide good salary hikes. Better performance As per the carefully crafted stock options, Infosys employees won’t have to wait too long to get their hands on the moolah, if the company does well. Unlike most employee stock options which specify a vesting date, a date at which they can be traded and sold—this is performance linked. “It is a reflection of how important performance is in an environment of strong demand. Performance based eSOPs essentially help employees grow with the company. It also helps the company align costs with revenue,” says Harit Shah, IT analyst at Reliance Securities. If challenging performance criteria like total shareholder return against industry peers, increase in total revenue, digital revenue growth and operating margins are achieved, these stock options can be vested! This way Infosys won’t have to pay upfront wage hikes, explains Shah, and wait to reap benefits later on. As employees help shareholders build value, they can vest their shares at a time when their company is in the best of shape, bringing the double bonanza that IT professionals have been waiting for a long time. It is now left to see if other IT majors will replicate this model. See Also <a href="https://www.businessinsider.in/infosys-allots-50-million-shares-to-employees/articleshow/69371959.cms">Infosys’ 2019 employee bonanza: Here’s what you need to know</a>

Poor salary hikes and fewer H1-Bs may force tech cos like Infosys roll out stock options

BANGALORE: TCS has become the world's third largest employer of people in the technology sector, with over 3 lakh employees. And given the pace at which it is growing, it could become the second largest employer this year, crossing Hewlett-Packard, and would be fast closing in on leader IBM. 
 
In India, it's one of the biggest creators of jobs in recent years, possibly even the biggest. Besides the Indian army, government departments like the Indian Railways and India Post, and PSU companies like Coal India, there's perhaps no other company that has more employees. And unlike the government departments, which are mostly reducing their staff strength, TCS numbers are rising each year by between 25,000 and 35,000. 
 
 
READ ALSO: <a href="http://timesofindia.indiatimes.com/tech/tech-news/TCS-joins-top-10-global-IT-services-companies-club/articleshow/34067479.cms">TCS joins top 10 global IT services companies club</a> 
 In the last fiscal year, the $13.4-billion <keyword id="146310" type="CITY" weightage="40" keywordseo="Tata-Group-company">Tata Group company</keyword> hired 61,200 people, with the net addition being 24,268, discounting those who left the company. The net addition in each of the past several years has been along similar lines or higher. 
 
 
 
 
 
On the contrary, for some of the leading global tech companies, numbers are dropping given the transformations they are going through to deal with shifts in technology towards areas like cloud computing and mobility. HP had 349,600 employees in 2011, but that number is now down to 317,500. IBM, which has about 4.3 lakh employees, is also in the midst of layoffs. 
 
 
 
 
TCS has said it will hire 55,000 people this year. If the net addition is half of that, it will be well ahead of HP's number by the end of this fiscal. Among Indian IT companies, Infosys is almost 50% of TCS with 1.6 lakh employees. 
 Sanchit Vir Gogia, chief analyst at Greyhound Research, says TCS is ahead of many of its Indian peers in identifying new areas of growth, making <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">investments</keyword> and all the right noises. "It is betting big on the Digital Five Forces—mobility, big data, cloud, social media and robotics," he said. 
 
Analysts also find it remarkable that it has grown its people strength so quickly, and yet created an organizational structure nimble enough to handle these numbers. Equally, it has kept its people costs under such control that it is seen as a major factor in its extremely high operating margins (over 28%), perhaps the highest among large companies in the global IT services industry. 
 
Pradeep Mukherji, president and managing partner in global management consulting firm Avasant, said TCS is managing the huge workforce by breaking it into smaller business units that each function virtually as a smaller company. "The depth and breadth of middle management and work delegation, managing a good onshore and offshore mix are some of the key drivers in managing the employee pyramid effectively," he said. 
 
TCS' employee cost has risen from Rs 90 billion in 2007 to Rs 319.2 billion in 2013, but the cost per employee has barely risen in these past seven years. The cost per headcount has grown from Rs 11.5 lakh in 2007, to Rs 12.4 lakh) in 2013, an annual increase of a mere 1.2%, said a report by US-based IT advisory firm HfS Research. "A conservative estimate of 8% annual wage hike in India, 2% hike in developed countries and 4% hike in developing countries will lead to about 7.5% weighted average annual wage hike for TCS' mix of employees," said HfS analyst Pareekh Jain. In other words, TCS has been able to offset its salary hikes through other measures. 
 
One of the biggest of these looks to be a sharp increase in its fresher intake relative to the intake of experienced employees. The percentage of freshers hired (of total hiring) increased to 81% in 2013 from 51% in 2007, finds HfS. 
 
"They have stretched the employee pyramid with an army of junior employees. TCS is aggressively hiring in tier-2 and -3 cities that offsets cost to a large extents TCS has also focused on automation and reusable software tools and frameworks to improve employee productivity," said Sudin Apte, CEO of IT advisory firm Offshore Insights. 
 
Jain believes that hiring more freshers has given TCS the flexibility to deploy them in lower value and transactional activities, thus freeing up experienced resources for higher value work. "Secondly, training freshers for new skills is easier than retraining old resources for new skills," he said. 
 <keyword id="1643718" type="PERSON" weightage="40" keywordseo="Ashish-Chopra">Ashish Chopra</keyword>, IT analyst with brokerage firm Motilal Oswal, noted that TCS had also significantly reduced the proportion of employees at client sites overseas, thus reducing the salary burden. 
 
But some also caution that adding employees in such large numbers may not be the best way to go in the longer run. "Linear employee growth is not a sustainable solution in the long run as newer technologies are nudging IT firms to explore non-linear revenue growth, growth delinked from headcount," said Mukherji. 
 
Gogia echoed that: "With new technologies, especially automation, shaping the world, it's only prudent that TCS utilizes its employees effectively."

TCS May Soon Be World's Second Biggest Tech Employer

<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>, which is India's second largest software exporter, has posted strong results for four quarters straight, because of which it has handed out an average wage hike of about 6 to 12% for all its offshore employees. On-site employees, on the other hand, were awarded about 2% of average hikes. Top performers, on the other hand, will get above-average hikes. 
 Infosys CEO <keyword id="6369763" type="PERSON" weightage="100" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> told investors said that FY 2015-16 had been good, and that they were on the edge of achieving industry leading growth in this fiscal. 
 
Last year, the average wage hikes at Infosys were of about 6.5%, following a disappointing year for the company with a revenue growth of about 7%. 
 
An average wage increase of 6 to 12% from Infosys could prove to be standard for salary hikes across the $160-billion IT industry of India, making companies like TCS and Wipro following suit. 
 
<a href="https://upload.wikimedia.org/wikipedia/commons/b/b3/Thiruvananthapuram_Infosys_Building.JPG">Image source</a>

Infosys employees will get an average salary hike of 6 to 12% this year

<ul><li>Indian IT giants are scrutinising every aspect of their expenses in order to cut down on costs as business takes a hit during the coronavirus pandemic. </li><li>Wage hikes have been paused, new employees aren’t being onboarded, and it helps that <keyword id="123591" type="PERSON" weightage="20" keywordseo="Work-from-home">work from home</keyword> means that travel expenditure is low for the meanwhile. </li><li>The weakening rupee against the US dollar brings in support. </li><li>Cost-cutting measures may help companies tide through the turbulent time, but they won’t help overall margins expand. </li></ul>The global economic recession would mean that the companies that employ the services of Tata Consultancy Services (<keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword>), <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword>, HCL Technologies, <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>, <keyword id="43217" type="CITY" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> and the likes are likely to cut corners and therefore, the Indian IT giants will also have to curb costs. All IT majors in India have listed a few ways ⁠— no salary hikes, reduced costs like travel and sponsorships, increased work from home⁠ — to cut costs. And, the Chief Financial Officers (CFOs) are hoping that a stronger dollar will boost margin when earnings are converted to rupee. However, a former Infosys Board Member TV Mohandas Pai believes that all these may, at best, keep the margin intact. “The IT industry will suffer in the near term due to bankruptcies of clients, a decline in spends, and economic contractions,” Pai told Edelweiss. “Big companies are already making 20 to 25% margins, and both rupee depreciation and productivity improvement are the tools that enable them to maintain margins,” he added. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Operating Margin Q4 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.5% </td></tr></tbody></table> IT majors have ‘no regret’ capping salaries for the time being Wipro is considering temporarily putting employees on leave in order to manage costs. Similarly, Infosys CFO Nilanjan Roy, said “We have stopped hiring temporarily, we have also frozen any salary hikes, we have temporarily suspended all promotions — so these, we believe, are no-regret moves,” during the fourth-quarter earnings call. So, how much does that save? According to the TCS annual report, the average annual increase was 6% in India. And, for the top five IT companies in India the employee costs can range from 30% to as much as 54%. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Actual employee cost FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% of revenue </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 9,916 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 64,906 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">49.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 42,434 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TM </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 9,282.70 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 26,171.80 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51.9% </td></tr></tbody></table> ‘Work from home’ can be a big cost saver <keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword> has proposed a <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-follows-tcs-and-infosys-lead-says-50-of-its-employees-will-work-from-home-even-after-the-lockdown-is-lifted/articleshow/75593968.cms">50/50 plan</a> ⁠— where only 50% of its employees will need to work from office at any given time ⁠— while TCS CEO Rajesh Gopinathan wants only <a href="https://www.businessinsider.in/business/corporates/news/tcs-ceo-says-the-business-model-is-20-years-old-and-its-time-to-go-employee-lite/articleshow/75243124.cms">25% of the employees on any project at any one place, at any one time. </a> The rest can work from home even after the lockdown has ended. “This would axe travel and real estate costs by roughly 300 to 400 basis points,” according to Pai. A hundred basis points make for a percent. However, there are other <a href="https://news.stanford.edu/2020/03/30/productivity-pitfalls-working-home-age-covid-19/">experts who believe</a> that any increase in productivity seen during the pandemic may only be temporary as other social options are limited. Once the lockdown is lifted and normal activity resumes, the same level of productivity may prove difficult to sustain. A weaker rupee is good for companies that earn in dollars Infosys has already gained 2% on the rupee depreciation — which meant a 50 basis points margin benefit — in the fourth quarter with 97% of their billing in foreign currency. HCL technologies also saw a similar benefit on their margins of around 53 basis points. “Foreign exchange movements, particularly the rupee movement is the one that gave us the maximum benefit,” said CFO of HCL Technologies, Prateek Agarwal. For TCS, movements in currency exchange rates through the year resulted in a positive impact of 0.1% on the reported revenue — that’s around 10 basis points for the whole year. These cost-cutting measures are the need of the hour to maintain margins, however, they aren’t going to spurt profitability, according to Pai. IT majors will be happy keeping the profit margin where it is with FY20 being more about sustaining growth rather than boosting profits. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/indian-banks-earn-3-1-billion-with-rbi-instead-of-giving-loans-to-businesses-despite-repo-rate-cut/articleshow/76000355.cms">Indian banks have made $3.1 billion just by parking funds with the RBI — instead of giving them out as loans</a> <a href="https://www.businessinsider.in/policy/economy/news/these-indian-states-have-seen-the-worst-economic-impact-due-to-the-covid-19-pandemic/articleshow/75999085.cms">These Indian states have seen the worst economic impact due to the COVID-19 pandemic</a> <a href="https://www.businessinsider.in/business/corporates/news/airtel-share-price-target-as-africa-unit-nears-a-billion-dollars-in-revenue/articleshow/75970641.cms">Airtel’s Africa unit is now a nearly-billion dollar business where every user pays 40% more than the one in India</a>

Three ways TCS, Infosys and other IT giants in India are trying to cut costs — but it’s not going to increase their profitability

<ul><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> gave its employees 100% variable pay over the last three months and restarted the promotion process for junior level employees. </li><li>Over the next three months, the promotions process will also come in for senior employees along with any salary hikes. </li><li>However, Infosys CFO Nilanjan Roy highlighted that the new measures are likely to impact margins in the second half of the current fiscal year. </li><li>Infosys plans to add 16,000 freshers to its roster during the current fiscal and another 15,000 next year.</li></ul>Infosys has witnessed a stellar second quarter with a 16.2% jump in profits over the last three months. It’s rewarding its shareholders with an interim dividend of ₹12 per equity share and its reinstating wake hikes, promotions and other measures for employees. <div type="Article" hostid="261" msid="78659827" title="Infosys second quarter earnings deliver on all fronts led by highest ever deal wins worth $3.15 billion — raises annual guidance to 2% to 3%" mstype="2" mssubtype="0"></div> The impact of these measures, some rolled out between July to September, could already be seen in the company's voluntary attrition rate at 7.8%. "Attrition has come down dramatically due to more employee engagement during COVID-19," said Infosys COO Pravin Rao during the second quarter earnings call. Infosys added around 5,000 freshers and 2,500 new lateral hires to its rosters in the second quarter. According to Rao, the company is looking to add a total of 16,000 freshers overall during the current fiscal and another 15,000 next year. <div type="image" title="Copy of attrition rates it companies" msid="78660846" hostid="261" caption="&amp;lt;p&amp;gt;Infosys attrition rate drops to 7.8%, the lowest it&amp;#39;s been in at least the past three years&amp;lt;/p&amp;gt;"></div> Infosys rolls out incentives for employees In the second quarter, it has already doled 100% variable pay. Infosys’ junior employees were also awarded a one-time special incentive over the last three months. However, there is a flip side. These measures are likely to affect margins. “Going into the second half, some of these cost increases will now come back like wage hikes, promotions, hiring etc,” said Infosys CFO Nilanjan Roy. Even so, the company has increased in annual margin guidance to between 23% to 24% and hiked the annual revenue guidance to between 2% to 3%. Over the next three months, the salary increase process will be restarted for senior employees as well, effective from January 1, 2021. “I’m thankful to all our employees for staying deeply to serve our clients. They’ve navigated their own challenges associated with the ongoing coronavirus situation,” said CEO Salil Parekh. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-announces-16000-crore-buyback-strong-show-in-q2-with-over-20-rise-in-profit/articleshow/78536532.cms">TCS announces ₹16,000 crore buyback — strong show in Q2 with 7% rise in profit, margins near two-year high</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-dips-after-earnings-report-analysts-believe-it-will-take-a-while-to-catch-up-to-tcs-and-hcl-technologies/articleshow/78654023.cms">Wipro’s share price dips by over 6% after earnings — analysts believe it will take a while to catch up to TCS and HCL Technologies</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-thierry-delaporte-outlines-five-point-strategy-for-growth-looking-at-more-acquisitions-and-larger-deals/articleshow/78643942.cms">Wipro CEO Thierry Delaporte outlines five-point strategy for growth — looking at more acquisitions and larger deals</a>

Infosys to reinstate wage hikes, promotions and hiring — will impact margins over the next six months

India's largest IT services company <keyword id="6357585" type="CITY" weightage="80" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (TCS) paid its Chief Executive Officer N Chandrasekaran Rs 21.28 crores in FY15. Chandrasekaran was the highest paid CEO in the <keyword id="13731" type="COMPANY" weightage="80" keywordseo="indian-IT">Indian IT</keyword> industry until <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> appointed <keyword id="6369763" type="PERSON" weightage="80" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> as its chief last year. 
 

	India's second largest software exporter Infosys paid Sikka Rs 30 crore for his first year in the company. 
	 

	Chandrasekaran got Rs 1.79 crore as salary, Rs 2.62 crores in perquisites, Rs 86 lakhs in other benefits and Rs 16 crore in commission - which is a percentage of the company's profit for the year. He was not issued any stock options in the last financial year. Meanwhile, TCS <keyword id="53346" type="POSITION" weightage="60" keywordseo="CFO">CFO</keyword> <keyword id="283473" type="PERSON" weightage="80" keywordseo="Rajesh-Gopinath">Rajesh Gopinath</keyword> earned Rs 2.14 crores during the year. Chandrasekaran received a smaller bump in pay as compared to some other CEO's in the Indian IT industry, though the overall quantum of his hike is larger. <keyword id="10862" type="CITY" weightage="80" keywordseo="Wipro">Wipro</keyword> CEO TK Kurien saw his pay jump 32%, but he is still paid roughly half of the TCS CEO earns. US-listed <keyword id="28721" type="CITY" weightage="80" keywordseo="Cognizant">Cognizant</keyword>'s CEO outearns the rest of the industry if stock options are included. In 2014-2015, Francisco D'souza total package exceeded $11 million. 
	(Image: Indiatimes)

TCS CEO is the highest paid in Indian IT industry after Infosys’ Sikka

As if finding a job in India's $160-billion IT industry wasn’t hard enough, fresh engineering graduates would have to deal with another disappointment this year. If reports are to be believed, they would not get to see any hike in their starting salaries anytime in the near future. 
 
ET talked to human resources heads of top IT companies like TCS, Infosys and Wipro, as well as several IT recruiters and experts, and reported that these firms are unlikely to revise fresher-level wages amidst declining spending and struggles to protect their profit margins, and not to forget the rising inflation and cross-currency fluctuations. 
 
However, a huge demand-supply imbalance can’t be ignored when it comes to the country's largest software services firms taking the liberty of not offering any hikes to freshers, since the dearth of jobs has led to one job being available for every five fresh engineering graduate. 
 
Presently, India produces over 1 million engineering graduates every year, however, the number of jobs available in the IT industry is somewhere around 200,000-300,000, as per Nasscom data. 
 
"Ten years ago, the supply-demand situation was neck to neck -- the number of engineers graduating was roughly similar to the number of jobs in the IT industry. That has changed drastically -- as of now, supply is 5 times as much as demand. When you have five people competing for one position, you don't have any incentive to raise salaries," said Achyuta Ghosh, head of research at Nasscom. 
 
<a href="http://www.tappaproductions.com/wp-content/uploads/2016/03/empty-pockets.jpg">Image source</a>

Top IT companies won’t offer any salary hikes to fresh engineering graduates this year

<ul><li>As much as 70% of the employees at the IT major <keyword id="10863" type="COMPANY" weightage="20" keywordseo="CapGemini">Capgemini</keyword> are getting a higher single-digit pay hike this year. </li><li>Its 84,000 employees will have increased pay, starting April 1. </li><li>The IT company rolled out over 4,000 job offers to lateral hires and to 2,000 freshers — and will absorb them all. </li><li>On similar lines, digital payments startup <keyword id="7349800" type="UNKNOWN" weightage="20" keywordseo="bharatpe">BharatPe</keyword> gave its employees a 20% <keyword id="6355281" type="UNKNOWN" weightage="20" keywordseo="Salary-hike">salary hike</keyword> while Cognizant announced 25% more pay on the base salary for the month of April.</li></ul>A large number of Indian companies are reeling under the Corona-induced lockdown, and hence choosing to either retrench or cut salaries. However, there are a few delightful exceptions who are offering hikes, even during difficult times. IT major Capgemini is giving 70% of its employees a higher single-digit pay hike this year. That helps 84,000 employees who will enjoy increased pay, starting April 1. The remaining staff will get appraisals in July, TOI <a href="https://timesofindia.indiatimes.com/business/india-business/capgemini-india-increases-salaries-grants-allowances/articleshow/75149348.cms">reports</a>. It is also one of the select few companies that is <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">absorbing all the new campus hires</a> it had extended offers to. It gave 4,000 job offers to lateral hires, and to 2,000 freshers in the quarter ending March. “This is a black swan event and at this point it’s not a question of timeline, but how our business will evolve. And we have a clear view as to what our economic model is going to look like and we don’t see any reason to discontinue this approach,” Ashwin Yardi, CEO at Capgemini India <a href="https://timesofindia.indiatimes.com/business/india-business/capgemini-india-increases-salaries-grants-allowances/articleshow/75149348.cms">told</a> TOI. The French IT multinational, with a heavy presence in India, is also giving away cash allowances worth ₹10,000 to employees who are not left with any means to relocate and are stranded without accommodation. In fact, the ‘shift allowance’ will now be extended to its ‘work from home’ employees as they practice social distancing. The company said that it will focus on retaining employees — even those on bench, who are not working on billable projects. Usually the grace period for those on bench is up to 60 days and IT majors generally have 8% of employees on the bench. Cognizant and BharatPe also hike salaries amid lockdown Digital payments startup BharatPe also decided to give its employees a hike. “I closed the appraisals two days ago and I have given a 20% hike to my employees. To me it’s like cycles will come and go, but can you keep your sanity and be ready to build a bigger business,” Ashneer Grover, CEO and co-founder, Bharatpe <a href="https://www.businessinsider.in/business/startups/news/bharatpe-gives-20-hike-to-its-employees-in-the-wake-of-the-coronavirus-crisis/articleshow/75091933.cms">told</a> Business Insider in an interview earlier. American IT multinational Cognizant too said it will bump wages for those up to the associate level. That’s almost two-thirds of its 200,000-strong workforce in India. It also announced 25% more pay on the base salary for the month of April to its employees in India and the Philippines as a “sign of gratitude” for their consistent efforts even during the pandemic. See also: <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires</a> <a href="https://www.businessinsider.in/careers/news/accenture-launches-people-work-connect-to-help-fired-employees-find-jobs/articleshow/75144624.cms">Accenture launches People+ Work connect to help fired employees find jobs</a>

Capgemini India, Cognizant and others who are giving salary hikes in times of Coronavirus

<ul><li>Tata Consultancy Services or <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> posted a 5% growth in net profits in the first quarter of FY23 at ₹9,478 crore.</li><li>On a quarter on quarter comparison, its profits fell by 5% as it was hit by increased costs across streams.</li><li>TCS’ CEO Rajesh Gopinathan too said that it started the new fiscal year on a ‘strong note’ and a good deal wins.</li></ul>Tata Consultancy Services or TCS posted a 5% growth in net profits in the first quarter of FY23 at ₹9,478 crore as compared to the same period last year, which was at ₹9,008 crore. However, on a quarter on quarter comparison, its profits fell by 5% as it was hit by increased costs across streams — like travel expenses in addition to employee benefit costs. The company’s profit grew by 5% compared to last year. “It has been a challenging quarter from a cost management perspective. Our Q1 operating margin of 23.1% reflects the impact of our annual salary increase, the elevated cost of managing the talent churn and gradually normalizing travel expenses,” said Samir Seksaria, CFO of TCS. These costs loaded on to the company’s books and took the sheen off 16% revenue growth on a year-on-year comparison. The company however insists that their long-term cost structures and competitiveness remain unchanged. <div type="image" title="TCS profits grows at 5%, hit by salary hikes, talent churn and travel costs" msid="92751815" hostid="261" sizebytes="95427"></div> <cmsannotation type="cmsannotation" annotationid="Don’t see an immediate footprint of recession" comment="subhead" text="Don’t see an immediate footprint of recession">Don’t see an immediate footprint of recession</cmsannotation> TCS’ CEO Rajesh Gopinathan too said that it started the new fiscal year on a ‘strong note’ and a good deal wins. Its total order book stood at $8.2 billion. “Pipeline velocity and deal closures continue to be strong, but we remain vigilant given the macro-level uncertainties. Looking ahead, we remain confident in the resilience of technology spending and the secular tailwinds driving our growth,” said Gopinathan. When asked about the possibility of recession and its impact on the company, Gopinath said that the top management is having serious discussions on recession. “We do not see an immediate footprint of it in the near term,” he said at the press conference. TCS also declared an interim dividend in the quarter. “We would like to inform you that at the board meeting held today (on Friday), the directors have declared an interim dividend of ₹8 per equity share of ₹1 each of the company," the company said in the BSE filing. <cmsannotation type="cmsannotation" annotationid="Table: TCS’ first quarter of FY23 in numbers" comment="subhead" text="Table: TCS’ first quarter of FY23 in numbers">Table: TCS’ first quarter of FY23 in numbers</cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY22 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹52,758 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹50,591 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹45,411 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹9,478 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹9,926 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹9,008 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Margin </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">18% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19.6% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19.8% </td></tr></tbody></table>Source: Company reports Wage hikes, currency volatility and a potential slowdown in international markets like US and Europe could impact the results of the Tata Group subsidiary, a report by Emkay had predicted. Increasing visa and travel costs, along with supply chain pressures, could affect the operating margins. In spite of pricing in these events, TCS’s profits missed analyst expectations of many brokerages like Motilal Oswal, Emkay Global, Edelweiss and Prabhudas Lilladher. TCS shares fell by nearly 15% in value ever since the start of this year, and they closed at ₹3,264 on July 8. The company’s share price declined 13% in April-June 2022, performing better than the Nifty IT index’s 23.14% drop in the same period. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/retail/news/dmarts-growth-momentum-could-be-impacted-by-high-inflation/articleshow/92747965.cms">DMart has more stores and no disruptions like it wanted – and investors are excited</a> <a href="https://www.businessinsider.in/india/news/not-just-crude-gold-silver-and-even-wheat-and-edible-oil-prices-are-going-down-in-india/articleshow/92748130.cms">It’s not just crude, gold, silver and even wheat and edible oil prices are going down</a> <a href="https://www.businessinsider.in/business/corporates/news/spicejet-shares-plunge-sharply-due-to-several-technical-malfunctions-and-rising-jet-fuel-prices/articleshow/92742788.cms">SpiceJet: In the eye of a perfect storm</a>

You Searched For "TCS salary hike" and got 12 results

TCS to dole out a second salary hike within a span six months

Prabhjote Gill

Wipro announces average salary hike of 7%

BI India Bureau

TCS crosses the 6 lakh employee milestone even as 1 in 5 quit in the first quarter

Rounak Jain

Poor salary hikes and fewer H1-Bs may force tech cos like Infosys roll out stock options

Katya Naidu

TCS May Soon Be World's Second Biggest Tech Employer

Times Of India

Infosys employees will get an average salary hike of 6 to 12% this year

BI India Bureau

Three ways TCS, Infosys and other IT giants in India are trying to cut costs — but it’s not going to increase their profitability

Prabhjote Gill

Infosys to reinstate wage hikes, promotions and hiring — will impact margins over the next six months

Prabhjote Gill

TCS CEO is the highest paid in Indian IT industry after Infosys’ Sikka

BI India Bureau

Top IT companies won’t offer any salary hikes to fresh engineering graduates this year

BI India Bureau

Capgemini India, Cognizant and others who are giving salary hikes in times of Coronavirus

Prerna Sindwani

TCS profits grows at 5%, hit by salary hikes, talent churn and travel costs

Kritti Bhalla

Popular Keywords

Buying Guides