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  • Revenue at $6.333 Bn | Growth of +16.8% YoY; +15.5% in CC  

  • All Verticals Grow 15%+ YoY; BFSI crosses $2 Bn in Qtrly Rev Run Rate 

  • North America Grows 17.4% YoY CC 

  • Industry-Leading Operating Margin Expands to 25.6%  

  • Net Income at $1.301 Bn | Growth of +14.0% YoY | Net Margin at 20.5% 

  • Client Metrics Show Healthy Growth Across Every Revenue Band 

MUMBAI, October 08, 2021: Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading global IT services, consulting and business solutions organization, reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending September 30, 2021. 

Highlights of the Quarter Ended September 30, 2021 

  • Revenue at $6.333 Bn, +16.8% YoY; +15.5% CC YoY 

  • Operating Margin at 25.6%; +0.1% QoQ, -0.6% YoY 

  • Net Income at $1.301 Bn, +14.0% YoY | Net Margin at 20.5% 

  • Strong Client Addition: 5 New Clients (total: 54) in $100Mn+; 17 new clients (total: 114) in $50Mn+  

  • Net Cash from Operations at $1.344 Bn ie 103.3% of Net Income 

  • Net headcount addition of 19,690 |Workforce strength: 528,748 

  • Diverse and inclusive: Women in the workforce: 36.2% | 157 Nationalities 

  • Building a G&T workforce: 417K+ employees trained in new technologies | 26K+ Contextual Masters identified | 6,900+ Elevate graduates 

  • Best in class talent retention: LTM IT Services attrition rate at 11.9%; lowest in the industry  

  • Dividend per share: ` 7.00 | Record date 19/10/2021 | Payment date 03/11/2021 

Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “The strong and sustained demand environment is a once-in-a-decade opportunity to position ourselves as the preferred growth and transformation partner for our customers. We are using the growth tailwind to invest in strengthening relevant capabilities and building out a comprehensive portfolio of offerings that caters to a broader set of stakeholders in the enterprise across business cycles, strengthening our brand, and making our business more resilient. We believe this is the most sustainable pathway to create longer term value for all our stakeholders.” 

N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: “We are pleased with our overall delivery performance during the quarter, where several large complex programs across verticals went live, thanks to the passion, energy, and commitment of our people. These include programs such as contact-less payments, card-less withdrawal of cash from ATMs for leading banks, space-range-display transformation for retailers, one of the largest application transformations to public cloud native architecture, all leveraging our automation led G+T framework, agile methods and toolkit. Our products and platforms, TCS BaNCS®,Quartz SmartLedgers™, TwinX™ and TCS Cognix™, all had marquee wins during the quarter and are increasingly driving business and operating model transformations in many markets.” 

Samir Seksaria, Chief Financial Officer, said: “Strong growth and disciplined execution helped us overcome headwinds from currency and supply-side inflation and deliver expanded margins. Our industry-leading profitability and strong cash conversion give us the wherewithal to make the right investments needed to build out the business of the future.” 

Q2 Segment Highlights** 

Industries:  All verticals showed strong, double-digit YoY growth. Growth was led by the Manufacturing vertical (+21.7%), followed by Life Sciences and Healthcare (+19%), Retail and CPG (+18.4%) and BFSI (+17%). Communications & Media (+15.6%) and Technology & Services (+14.8%) witnessed accelerated growth.  

Markets: All major markets showed strong growth, with growth led by North America (+17.4%). UK grew (+15.6%), and Continental Europe grew (+13.5%). Among emerging markets, growth was led by India (+20.1%), followed by Latin America (+15.2%), Middle East & Africa (+13.8%) and Asia Pacific (+7.6%).  

Services: Q2 saw strong demand for growth and transformation services as customers took a longer-term view of their businesses, driven by improving vaccination levels and business outlook. There was broad-based growth for services around cloud, enterprise application services, analytics and IoT. 

  • Consulting & Services Integration:  Continued to deliver strategic transformation programs and provide outcomes-focused thought leadership for client pursuits and deliveries. Key offerings driving growth this quarter were Supply Chain and NextGen Enterprise Transformations. 

  • Digital Transformation Services: Growth this quarter was led by Enterprise Application Services, Analytics & Insights and Internet of Things. Enterprises continue to invest in growth and transformation programs, and the focus remains on building digital platforms of the future. Growth for Enterprise Application Services was led by e-Commerce and customer experience, supply chain, and human capital management solutions leveraging SAP S/4HANA and Salesforce. IP-led offerings in Analytics and Insights, such as DATOM™, DAEzMo™ and Decision Fabric™ saw strong resonance. TCS Bringing Life to Things™ is emerging as a key enabler in the connected enterprise initiatives of marquee customers. Next-Gen asset life cycle management, vehicle engineering, and digital thread are key themes driving the demand for Engineering and IoT services. 

  • Cloud Platform Services: Continued to see traction for core application migration services, workplace services and modernization initiatives leveraging cloud native development. TCS was recognized as Google Cloud’s 2020 Breakthrough Partner of the Year in Q2. 

  • Cognitive Business Operations: TCS Cognix™ and MFDM™ powered 5 very large deal wins by driving digital transformation of operations. Data Center, Network and F&A services led the growth. Cognix™ continues to make strong strides, with the installed base crossing 150, helping customers improve business agility, user experience, operational resilience, and operational efficiency.  

** Year on Year Growth in Constant Currency terms 

Research and Innovation 

As on September 30, 2021, the company has applied for 6,169 patents, including 180 applied during the quarter, and has been granted 2,100 patents. 

Human Resources  

The company’s ability to attract and retain talent at scale, and its continued investments in organic talent development, have enabled it to fulfill much of the incremental demand in newer technologies using internal candidates. Employees logged over 14.3 million learning hours in Q2. Over 496,000 employees have been trained in Agile methods and over 417,000 employees have been trained on multiple new technologies. 

TCS added 19,690 employees on a net basis in Q2, taking the total employee base to 528,748 as of September 30. It continues to be a very diverse workforce, comprising 157 nationalities and with women making up 36.2% of the base.  

TCS’ philosophy of investing in people and its progressive workplace policies have resulted in industry-leading talent retention. IT Services attrition rate (LTM) was at 11.9%, the lowest in the industry.  

“This has been a fulfilling quarter in more ways than one. We brought on board a record number of 43,000 fresh graduates in the last six months. Our Shift-Left training strategy has helped us significantly accelerate their deployment. Investing ahead of time in building our own pipeline of talent has helped us overcome supply-side challenges, and meet the execution timelines of our customers’ growth and transformation programs. By focusing on organic talent development and by linking learning with careers, we have kept employee satisfaction levels high. At the same time, we continue to scale up programs like Contextual Masters and Elevate to groom the G&T leaders for the workforce of tomorrow,” said Milind Lakkad, Chief HR Officer. “With 70% of TCSers fully vaccinated, and over 95% having received at least one dose, we plan to gradually get our workforce back in office by the end of this year.”  

Awards and Recognition  

Business Leadership: 

  • Named to the Microsoft Business Applications 2021/2022 Inner Circle, for the high standard of excellence in building innovative solutions that help customers achieve their growth and transformation objectives.  

  • CEO and Managing Director, Rajesh Gopinathan, awarded the IT Person of the Year 2020 at Dataquest ICT Awards 2020.  

  • TCS Bringing Life to Things™ IoT framework received the Emerging Brand Award at the CMO Vision and Innovation Awards 2021.  

  • Won 14 Gold Medals, 3 Silvers and 3 Bronzes at the 2021 Brandon Hall Group Excellence in Learning Awards, across Leadership Development (4 Golds), Learning & Development (3 Golds, 2 Silvers), Diversity, Equity and Inclusion (3 Golds, 1 Silver), Talent Acquisition (2 Golds, 1 Bronze), Talent Management (1 Gold, 1 Bronze), Workforce Planning & Management (1 Gold) and Sales Training (1 Bronze).  

Innovation and IP: 

  • Won 4 Stevie awards for innovation and IP at the International Business Awards 2021: 

  • Gold Stevie for `Most Innovative Tech Company’ in the `more than 2500 employees’ category  

  • Gold Stevie for TCS TwinX™ in the Business Technology Solution category – AI/ML solution  

  • Silver Stevie for TCS Omnistore™ in the Business Technology Solution category – Emerging Technology  

  • Bronze Stevie for TCS' Data Exchange Platform in the Most Valuable Technical Innovation – COVID-19 Response category  

  • TCS’ Data Marketplace Solution for COVID-19 awarded at the 19th Asian IT Leadership Awards 2021 under the Best Use of IT in Healthcare category. 

  • Recognized as an `Innovator’ at NASSCOM AI Gamechangers 2021 in the Use of AI for Public Services Category for its innovative AI-based Sanitation Inspection system.  

  • TCS Research Scientist awarded the IIT-Bombay Naik and Rastogi Award 2021 for research excellence and best thesis.  


  • TCS Bringing Life to Things ™ IoT Lab awarded CMO Corporate Social Responsibility Award at CMO Vision and Innovation Awards 2021. 

  • TCS’ AI-based Sanitation Inspection solution recognized at the 19th Asian IT Leadership Awards 2021 under the Best Use of IT for Social Cause. 


TCS won the following awards and recognition from technology alliance partners: 

  • MongoDB Global System Integrator Partner of the Year Award for its bold, innovative solutions that accelerate the growth and transformation journeys for businesses across industries. 

  • 2020 Google Cloud Breakthrough Partner of the Year for demonstrating innovative thinking, outstanding customer service, and best-in-class use of Google Cloud products and solutions. 

  • Two 2021 Microsoft Partner of the Year Awards – Azure Intelligent Cloud in France and Dynamics 365 Field Service in the US, for demonstrating excellence in innovation and providing outstanding solutions and services based on Microsoft technology.  

  • Cohesity GSI Innovation Partner of the Year FY21, for accelerating innovation and increasing the ease of doing business.  

  • Consulting Winner along with customer Stellantis (formerly Fiat Chrysler Automobiles) for Marketing Cloud at Salesforce Partner Innovation Awards 2021  

  • Celonis BPO Partner of the Year at the Celonis Ecosystem Summit 2021. 

About Tata Consultancy Services

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 528,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit

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