India's TCS to hike wages 12-14 % for India staff

India's TCS to hike wages 12-14 % for India staff

The wage increases and currency fluctuations pose headwinds for growth, Chief Executive N Chandrasekaran told reporters after the company posted fourth-quarter results.

The company plans to raise wages by 2 to 4 percent in major overseas markets and 2 to 14 percent in emerging markets.

TCS earlier on Thursday said fiscal fourth-quarter net profit rose 23 percent to 24.02 billion rupees ($542 million), beating analysts' forecasts.

This compared with a Reuters poll forecast for net profit of 23.51 billion rupees for TCS, whose major clients include Citigroup , General Electric , British Airways and Sony Corp .