Tata Consultancy Services (TCS) announced the July-September quarter results for fiscal 2024-25 (Q2FY25) on Thursday, October 10, indicating an increase in its attrition rate by 20 basis points (bps) to 12.3 percent, up from 12.1 percent in the preceding April-July quarter of fiscal 25.

India's leading information technology (IT) services company added more than 11,000 net new employees in the first half of the current fiscal year (H1FY25), which runs from April to September. Milind Lakkad, the company's chief human resources officer, said trainee onboarding is progressing as expected, and the campus hiring process for FY26 has begun.

TCS added 5,726 employees net of headcount during the July-September quarter, increasing its total workforce to 612,724. 'The employee base is quite varied, with 35.5% women and 150 nationalities," TCS stated in an exchange filing on Thursday. TCS employees have accumulated 26.1 million learning hours and 2.6 million competencies year to date. TCS's chief financial officer, Samir Seksaria, stated that the company made critical investments in personnel and infrastructure this quarter.

"We welcomed 11,000 associates in the first half of the year and are still on pace to onboard trainees as anticipated. We've also started the campus employment process for FY26. "Our strong talent base and increased learning intensity prepare us well for the complex technology transformations that customers entrust us with," stated Milind Lakkad, TCS's Chief Human Resources Officer.

TCS Q2 results

TCS reported a 4.99% increase in net profit to ₹11,909 crore in the September quarter, but a narrowing profit margin hampered the growth. The Tata Group reported a net profit of ₹11,342 crore in the previous year and a post-tax profit of ₹12,040 crore in the June quarter.

TCS' revenues increased by 7.06 percent to ₹64,988 crore, up from ₹60,698 crore in the previous year and slightly higher than ₹63,575 crore in the June quarter. The operating profit margin fell to 24.1%, down 0.2% from the year before and 0.6% from the April-June quarter.

K Krithivasan, CEO and Managing Director, stated, "We witnessed the cautious patterns of the previous quarters continuing to play out in this quarter as well. Despite an uncertain geopolitical climate, our largest sector, BFSI, demonstrated signs of revival. We also experienced significant performance in our Growth Markets. We concentrate on honing our value proposition for our clients, staff, and other stakeholders."