Tata Consultancy Services has reached a milestone of $25 billion in annual revenue for the year ended December 2021. TCS’ net profit for the December quarter grew 12.3 per cent to Rs 9,769 crore. The company said that its growth over the past four quarters helped them reach the $25 billion mark. Rajesh Gopinath, the CEO and managing director of TCS said, “Our continued growth momentum is a validation of our collaborative, inside-out approach to our customers’ business transformation needs.”
The company also promoted 1.1 lakh employees in this fiscal year and plans to promote 40,000 more in Q4 FY22. With the addition of 28,238 members, TCS has taken its total employee strength to 5,56,986.
With improved performance in terms of both revenue and talent acquisition and retention, TCS has managed to become the leading Indian SaaS company.
TCS is rapidly transitioning to a more cloud and SaaS-based platform. In an earlier interview with Economics Times, N Ganapathy Subramaniam, the chief operating officer of TCS, said that in 2021, over 95 per cent of the company’s deal wins have been cloud and SaaS-based platforms. He also said that the company is moving towards a SaaS-based consumption model. Notably, in July 2021, TCS had announced the launch of Jile 5.0, an updated version of a Saas-based corporate agile application to help businesses with their large sale development needs across different remote teams.