Latest News | TCS Pays 100pc Quarterly Variable Allowance to over 70pc of Employees
Get latest articles and stories on Latest News at LatestLY. Tata Consultancy Services has paid out 100 per cent cent of the Quarterly Variable Allowance (QVA) to more than 70 per cent of its workforce for the January -March quarter.
New Delhi, May 6 (PTI) Tata Consultancy Services has paid out 100 per cent 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.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)