Currency impact neutral in Q2; salary increments like last year, says TCS-March 2024-www.financetom.com

Currency impact neutral in Q2; salary increments like last year, says TCS

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Currency impact neutral in Q2; salary increments like last year, says TCS

Oct 8, 2020 1:38 AM

IT bellwether Tata Consultancy Services (TCS) reported a net profit of Rs 7,475 crore for the quarter ended September. Revenues for the quarter stood at Rs 40,135 crore.

In constant currency terms, dollar revenue was $5,424 million, a growth of 4.8 percent.

For the quarter, the currency impact on earnings was neutral despite the fluctuations in both the dollar as well as other major currencies, said V Ramakrishnan, CFO of TCS in an interview to CNBC-TV18.

He said the company’s dependence on H-1B visas has been significantly low.

Speaking about wage hikes, Milind Lakkad, Executive Vice President and Global Head - Human Resources said the increments given this year will be very similar to what has been done in the past.

First Published:Oct 8, 2020 10:38 AM IST

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