Good news for TCS employees! IT giant to roll out salary hike from October 1

Indian's top IT company TCS on Wednesday announced salary hike for its employees effective October 1. The move is likely to bring cheer to the company's 4,53,540 employees.

"We want to thank all TCSers for the incredible resilience they have shown during these trying times. We are happy to announce that we will be rolling out salary increases, effective October 1st. We started onboarding freshers, and increased our recruitment globally in Q2, in anticipation of the growth trajectory we see ahead," said Milind Lakkad, Global Head, Human Resources.

According to a report by Mint, TCS said that it was investing in organic talent development with a particular focus on upskilling and innovative training. Over 352,000 employees were trained on several new technologies and over 427,000 were given training on Agile methods. TCS employees punched in over 10.2 million learning hours in the second quarter, a 29 per cent increase from the previous quarter, the company said.

Also read: TCS jumps over 5% after share buyback announcement

The consolidated net profit of TCS in September fell to Rs 7,475 crore from Rs 8,042 crore. The company had to set aside Rs 1,218 crore as provisions because of the trade secrets lawsuit filed by Epic Systems, if not the net profit would have grown 4.9 per cent to Rs 8,433 crore.

Meanwhile, consolidated revenue was up by 3 per cent at Rs 40,135 crore.

Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: "Driving accelerated business value realization of our customers' digital investments has resulted in broad-based revenue growth. The strong order book, a very robust deal pipeline, and continued market share gains give us confidence for the future."