Tata Consultancy Services (TCS) has announced that it has disbursed 100% of the Quarterly Variable Allowance (QVA) to more than 70% of its workforce for the January-March quarter. This move comes despite a reported 1.7% decline in net profit during the same period, attributed largely to margin contraction.
Key Points
- TCS has paid out 100% QVA to over 70% of its total workforce.
- The QVA for employees in other grades is based on their unit’s business performance, consistent with TCS’s policies.
- During the March quarter, TCS experienced a net profit decline of 1.7%, totalling ₹12,224 crore.
- Total revenue for the quarter was ₹64,479 crore, representing a 5.3% increase year-on-year.
- The company added 625 employees, bringing its workforce to over 600,000.
Why Should I Read This?
If you’re curious about how major companies like TCS handle employee compensation in fluctuating markets, this article is a must-read! It highlights an impressive payout strategy amidst profit dips, shedding light on corporate resilience. Plus, it’s a neat reminder that even big firms are keen on keeping their employees happy — you wouldn’t want to miss that!