TCS to hire 37,000 from campuses next fiscal

TCS to hire 37,000 from campuses next fiscal

Mumbai: IT major Tata Consultancy Services on Tuesday said it plans to hire 37,000 professionals for its domestic and overseas markets through campus placements in the next fiscal.

"We plan to hire 37,000 professionals through campus recruitments in FY 12. We have so far visited 171 institutions pan-India," the company's head (global human resources) Ajoyendra Mukherjee told reporters in Mumbai.

"Our hiring ratio will be around 54:46 trainee and lateral (professionals) respectively," he said. The company had hired 27,500 professionals through campus recruitment last year. "The demand is strong and we hope it will continue to grow in the coming days," he said.

The country's largest software exporter said it has hired 50,000 personnel in the nine-month period ended December 2010 and expects to add another 12,000-15,000 in Q4.

TCS added 20,219 people (gross) during the quarter (Q3 FY 11), its highest addition yet, taking its total headcount to 1,86,914 at the end of the third quarter.

"Given the strength of business demand, we have exceeded the hiring target of 50,000 employees we had set for this fiscal year," Mukherjee said. TCS CEO and Managing Director N. Chandrasekaran had on Monday said the company faces the major challenge of attrition.

"Our short-term challenge is we have to continue to retain people although the attrition rate has come down in Q3 FY 11," Chandrasekaran had said.

TCS Q3 result shows net up 30%

Country's largest software firm Tata Consultancy Services (TCS) today posted 29.93 per cent jump in consolidated net profit at Rs 2,369.83 crore for the third quarter ended December 31, 2010.

The company has announced 200 per cent dividend. It has declared the third interim dividend of Rs 2 per equity share of Re 1 each. TCS had recorded net profit of Rs 1,823.90 crore in the October-December 2009 quarter, the company said in a filing to the Bombay Stock Exchange.

Income from operations rose to Rs 9,663.35 crore during the Q3 of the current fiscal, up 26.34 per cent from Rs 7,648.53 crore in the year-ago period. It added 35 new clients during the quarter.

"Our ongoing performance has been the result of the sustained effort from all operating teams to focus on growth with profitability," TCS CEO and MD N Chandrasekaran said.

The growth was evident in the sequential numbers, too. TCS reported a net profit growth of 9.3 per cent on a quarter-on quarter basis; and revenues grew 4.1 per cent.

TCS, which counts Citigroup and General Electric among its clients, said Asia-Pacific region grew 18.4 per cent and the UK by 12.1 per cent. The US and continental Europe grew 6.5 per cent.India and Latin America were a tad slow in growth due to higher discretionary spend projects.

The company said it added 20,219 people (gross) during the quarter, its highest addition yet, taking the total headcount to 1,86,914 at the end of the December quarter.

Source: PTI