The new delivery centre will specialise in key areas such as business transformation, artificial intelligence and CBO, offering a comprehensive suite of IT services to clients in Brazil and around the world…reports Asian Lite News
Tata Consultancy Services (TCS) on Monday announced a new delivery centre in Brazil that will create more than 1,600 new job opportunities over the next five years.
The centre in Londrina, in the state of Parana, would contribute to the local economy and strengthen the TCS’ presence in the region.
“We are looking to double the number of associates in key areas such as cyber-security, cloud, cognitive business operations (CBO), ITIS, AI and automation, reflecting our dedication to innovation and excellence in technology services,” said Bruno Rocha, Country Head, TCS Brazil.
Present in Londrina since 2018, the company employs around 1,700 people in the city.
The new delivery centre will specialise in key areas such as business transformation, artificial intelligence and CBO, offering a comprehensive suite of IT services to clients in Brazil and around the world.
“I have come to India to learn more about the capabilities that the country has built in many areas, especially in digital technologies, where India is a global leader, and leveraging experiences from here, we can deepen digitisation of various services and products for the Brazilian economy,” said Carlos Massa Ratinho Junior, Governor of the State of Parana.
TCS said it has been operating in Brazil for over two decades, with operations in Londrina, Sao Paulo, and Rio de Janeiro
Meanwhile, Tata Consultancy Services (TCS) revealed that its headcount dropped by 13,249 employees (year-on-year) during the financial year 2023-24 (FY24).
This is the first time in 19 years that the leading IT software company witnessed a drop in headcount.
The company ended FY24 with 601,546 employees, according to TCS’s stock exchange filing.
TCS saw a decrease of 1,759 employees in the fourth quarter (Q4) of FY 2024 (January to March).
This marks the third consecutive quarter in which the company’s headcount has declined.
In the previous quarter, the number of employees dropped by 5,680 employees (quarter-on-quarter), and in Q2, the company witnessed a net reduction of 6,333 employees.
Tata Consultancy Services (TCS) had reported a 9 per cent increase in net profit at Rs 12,434 crore for the Jan-March quarter of 2023-24 up from Rs 11,392 crore in the same period of the previous year.
The TCS board has approved a final dividend of Rs 28 per share.
The revenue of the IT sector bellwether rose 3.5 per cent to Rs 61,237 crore during the quarter, according to the stock exchange filing by the company.
The operating margin went up to 26 per cent from 25 per cent in the previous quarter.
TCS posted a 6.8 per cent increase in revenue for the full financial year 2023-24 to Rs 240,893 crore while the net profit for the year was at Rs 46,585 crore.
TCS also registered an all-time high in new deals for the fourth quarter at $13.2 billion, while the value of the new deals won by the company for the full financial year also was a record $42.7 billion.
TCS Chief Executive Officer K Krithivasan said: “We are very pleased to close Q4 and FY24 on a strong note with the highest ever order book and a 26 per cent operating margin, validating the robustness of our business model and execution excellence.”
“In an environment of global macro uncertainty, we are staying close to our customers and helping them execute their core priorities with TCS’ portfolio of offerings, innovation capabilities and thought leadership,” he added.
The share price of TCS closed at Rs. 4003.80 per share on BSE, a 0.48 per cent increase over the previous day’s close.
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