TCS gave this 100% quarterly allowance to its 70% employees, know the company’s performance
Tata Consultancy Services (TCS) of the country and the world, Tata Consultancy Services (TCS) paid 100 percent of its quarter convertible allowances i.e. QVA for more than 70 percent of its employees for the January-March quarter. According to PTI news, the company clarified that for second -grade employees, QVA payment is determined by the performance of their respective business units, according to the policy established in the TCS quarters.
Total revenue of ₹ 64,479 crore in the fourth quarter
According to the news, the Tata Consultancy Services recorded a decline of 1.7 percent in the net profit in the March quarter, which was primarily Rs 12,224 crore due to margin contraction. It recorded a total revenue of Rs 64,479 crore in the fourth quarter of the financial year, which is 5.3 percent higher than the same period last year. The company added 625 employees to this quarter, which exceeded the total number of employees.
The company said about the salary of 6.07 lakh employees
Announcing the income of its fourth quarter and FY 2025 last month, TCS said it would avoid the annual salary hike of its 6.07 lakh employees due to commercial uncertainties arising from tariff issues. The company’s Chief Human Resource Officer Milind Lakkad cited commercial uncertainties to delay the annual increment, which usually begins in April. No information was given about when the company will announce the salary hike.
AI does not mean a threat to the job
Ashok Krrish, the global head of the Artificial Medha (AI) unit of Tata Consultancy Services (TCS), recently said that AI will promote the birth of new technology and will give a new shape to the nature of the work. He said that AI should be seen as a catalyst of skill change, not from a danger perspective to jobs.
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