TCS Delivers Full QVA to Major Workforce Amid Quarterly Revenue Rise
Tata Consultancy Services announced a complete payout of the Quarterly Variable Allowance for the majority of its workforce in the January-March quarter. Despite a decline in net profit, the company achieved a revenue growth of 5.3%. Annual wage hikes have been delayed due to business uncertainties.
- Country:
- India
Tata Consultancy Services (TCS) has announced that it compensated over 70% of its workforce with the full Quarterly Variable Allowance (QVA) for the recent quarter from January to March.
The firm specified that the QVA for other employees is adjusted in alignment with the performance of their specific business units, adhering to standard company policy.
Furthermore, despite recording a 1.7% decrease in net profit to Rs 12,224 crore due to margin contraction, TCS's revenues surged to Rs 64,479 crore in Q4 FY25, marking a 5.3% year-on-year increase. The decision to defer annual wage hikes for its workforce of over 6 lakh was attributed to ongoing economic uncertainties.
(With inputs from agencies.)
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- wage hikes
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