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TCS pays full Quarterly Variable Allowance to most employees but reports a net profit decline and delays wage hikes.
Tata Consultancy Services (TCS) paid 100% of its Quarterly Variable Allowance to over 70% of its workforce for the January-March quarter, with the rest receiving based on their business unit's performance.
Despite adding 625 employees, TCS reported a 1.7% decline in net profit to Rs 12,224 crore, citing margin contraction.
The company also delayed annual wage hikes for its 6.07 lakh employees due to uncertain business conditions.
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TCS paga la totalidad de la asignación variable trimestral a la mayoría de los empleados, pero reporta una disminución de los beneficios netos y retrasa los aumentos salariales.