The company attributed the cut in guidance to the macroeconomic uncertainties.
The executive remuneration for FY2020 is lower than FY2019 in view of the economic conditions impacted by the COVID-19 pandemic. The directors have decided to moderate the executive remuneration for this year to express solidarity and conserve resources.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
Tata Consultancy Services (TCS) has been ranked the third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.
TCS chief operating officer N Ganapathy Subramaniam earned over Rs 11.61 crore in FY19 as compared to Rs 9.29 crore last fiscal.
Without exception, the top four majors beat Street estimates across all parameters - revenues, profitability, or net profit growth. However, what stood out were the large deal wins reported by the big two, TCS and Infosys.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The buyback, at Rs 2,100 per equity share, entails up to 7.61 crore shares or 1.99 per cent of the total paid up equity share capital.
Revenue grew 5.1 per cent in the quarter under review to Rs 39,946 crore from Rs 38,010 crore in the corresponding period last fiscal.
India Inc's cash pile was up 13.8 per cent last fiscal year, thanks to a combination of higher profits in sectors such as IT and fund raising by top companies such a Reliance Industries, Bharti Airtel and Tata Motors, among others.
Revenue of the Mumbai-based firm grew 18.5 per cent in the quarter under review to Rs 38,010 crore from Rs 32,075 crore in the corresponding period last fiscal.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
The ministry had on September 2 issued guidelines as per which staff and examinees from containment zones shall not be permitted to be physically present at exam centres and there will be alternative arrangements for such students.
'Our focus on fresher induction is high, given that they come in with certain advantages.' 'They do not have an unlearning process as seen in senior employees.'
The IT major is followed by RIL (Rs 795,628.55 crore), HDFC Bank (Rs 624,362.11 crore), Hindustan Unilever (Rs 367,880.69 crore) and ITC (Rs 367,513.78 crore).
ONGC had dethroned Tata Consultancy Services from the pole position in market-valuation charts on Wednesday, but its leadership position proved to be short-lived and it slipped to the second position in today's trading session.
Overall attrition jumped to 20.6 per cent in the quarter, a 400 basis points rise over 16.6 per cent in the earlier quarter.
The exchange cited issues with its telecom service providers that prevented stocks and index quotations from getting updated.
The Times Top 50 Employers for Women recognizes organisations that are spearheading gender equality in the workplace.
While Wipro will announce its fourth quarter (Q4) results along with annual financial statements on April 15, market leader TCS will hold its board meet the next day (April 16) for approval of its financial statements. Infosys is yet to inform investors the date it will announce its Q4 earnings.
Tata Consultancy Services (TCS) on Wednesday announced a mega-Rs 16,000 crore buyback plan at Rs 3,000 per equity share. In 2017 and 2018 too, TCS had undertaken buyback offers of similar sizes.
The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
As many as 14,000 runners from across 15 countries will be lining up to take part in a nearly month-long initiative to raise funds for coaches and support staff in various sports amid the COVID-19 pandemic, the organisers said on Thursday. Championed by celebrated national badminton coach Pullela Gopichand, and Arjuna Awardees Ashwini Nachappa and Malathi Holla, 'Run to the Moon' will conclude on July 21 to coincide with the 51st anniversary of man's first landing on the moon.
Apple's stock rose 5.89 per cent to a record-high close of $201.50 on Wednesday following the company's better-than-expected quarterly results.
The candidates will be selected through a National Qualifier Test. The top 1,000 will be offered a much higher salary -- almost double of that being offered to peers.
Top Indian IT services companies - TCS, Infosys, Wipro and HCL Tech - have said that they would continue to hire freshers through campus interviews, though lateral hiring will be mostly on exception basis.
The Top Employers certification is awarded to a select group of employers.
Most of the large Indian IT services players, such as TCS, Infosys, Wipro, and HCL Tech, have signalled increased offshoring efforts and opting for local hires in the US, primarily to address the immigration-related challenges.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
Revenue of the Mumbai-based firm grew 11.4 per cent to Rs 38,172 crore in the June 2019 quarter, compared to Rs 34,261 crore in the same quarter of 2018-19.
While discretionary spend by global enterprises is likely to negatively impact all Indian IT firms, more revenues from products and less exposure to financial services segment are likely to lessen the impact for HCL Technologies and Tech Mahindra.
>The farmers will go home but the country will not get the agricultural reform it badly needs -- if nothing else, then to prevent a bigger water crisis than already exists, argues T N Ninan.
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
TCS, Infosys ramp up onshore hiring; Infosys committed to hire 25,000 over 5 years.
The county's largest IT company TCS on Friday reported a 7.2 per cent jump in December quarter net to Rs 8,701 crore on a consolidated basis, and seemed to suggest the worst is behind by projecting double-digit revenue growth for FY22. The company, a cash cow for Tata Sons, saw a 5.4 per cent growth in revenue at Rs 42,015 crore for the quarter. Operating profit margin came in at 26.6 per cent despite implementing wage hikes, after consistently missing the 26-28 per cent aspirational band for many quarters.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
TCS, HDFC Bank, Hindustan Unilever Limited (HUL), HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and SBI closed the week with losses.
TCS will manage 'Question Creation Wizard' to frame question papers unique to each candidate with the same level of difficulty.
According to experts in human resources, even joining of new graduates is likely to be staggered as companies are expected to onboard staffers after gauging the demand scenario.
This is the company's first business process outsourcing centre in the South-East Asia and the latest addition to the company's Global Network Delivery Model, Tata Consultancy Services said in a filing to the Bombay Stock Exchange.
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