Tata Consultancy Services reported an 18% year-on-year jump in revenue and an 8.4% increase in net profit in the September quarter as it kicked off earnings season for India’s IT sector on Monday. Chief executive Rajesh Gopinathan said while the company is seeing demand momentum across markets, the challenging environment “requires all of us to remain vigilant.”
The number of offers made for entry-level positions in fiscal 2022 was the highest ever, driven by pent-up demand for talent after the pandemic. Some like Jimit Arora, Partner at Everest Group, see the current expectations as normal compared with the pre-pandemic hiring trend.
