TCS Q3 Results: Revenue In Line With Estimates, Attrition Inches Up

Business Environment

TCS' 2021 revenue hit $25 billion mark in the third quarter. “Our continued growth momentum is a validation of our collaborative, inside-out approach to our customers’ business transformation needs," Rajesh Gopinathan, managing director and chief executive officer at TCS, said in a statement.

The IT company also added 28,238 people to its workforce in the quarter. With this the company's total workforce strength stands at 5.56 lakh. “Our sustained investment in our talent has helped us power strong growth despite a challenging supply environment," Samir Seksaria, the company's chief financial officer, said. "We remain focused on long term talent development as well as on tactical measures to mitigate the talent churn."

TCS' operating margin contracted to 25% from 25.6% in the preceding quarter.

The BFSI and communication segments continued to drive TCS' growth in Q3. Retail and manufacturing segments grew by 4.9% and 4.1% sequentially despite seasonal headwinds due to furloughs.

Shares of TCS declined 1.50% ahead of the results on Wednesday, while NSE Nifty 50 rose 0.64%.