New Delhi:
Tata Consultancy Services has paid out 100 per cent of the Quarterly Variable Allowance (QVA) to more than 70 per cent of its workforce for the January -March quarter.
The company clarified that for employees in other grades, the QVA payout is determined by the performance of their respective business units, which is consistent with TCS’s established policy across quarters.
“We have paid out 100 per cent QVA to over 70 per cent of the company. For all other grades, the QVA depends on their unit’s business performance. This is in line with our standard practice across quarters,” TCS said in a statement.
TCS (Tata Consultancy Services) reported a 1.7 per cent decline in the March quarter net profit to Rs 12,224 crore, driven largely by a margin contraction.
It logged a total revenue of Rs 64,479 crore in Q4 FY25, up 5.3 per cent over the year-ago period.
The company added 625 employees in the quarter, bringing its total workforce to over 6 lakh.
While announcing its Q4 and FY25 earnings last month, TCS had said that it would be deferring annual wage hikes to its 6.07 lakh employees due to the business uncertainties triggered by the tariff issues.
The company’s chief human resources officer Milind Lakkad cited business uncertainties for the delay in annual wage hikes, which generally set in from April. He, however, did not give a timeline for when the company will announce the hikes.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
