Vastavam web: India’s largest IT services firm TCS increased its spending on research and development and innovation initiatives by over 17 per cent to Rs 1,500 crore in 2017-18, compared to the previous year.Its total R&D and innovation expenditures stood at Rs 1,278 crore in 2016-17, as per the company’s annual report.
Of its expenditure in FY18, Rs 298 crore was spent on R&D, while Rs 1,202 crore was directed towards innovation centres, it added.A crown jewel of the salt-to-software services conglomerate Tata Group, TCS had a consolidated total income of Rs 1,26,746 crore in FY2017-18, while its profit for the fiscal was at Rs 25,880 crore. The company has a workforce of about 3.94 lakh people.
TCS has Innovation Labs located in India and other parts of the world. The R&D centres, certified by Department of Scientific & Industrial Research (Government of India), function from Pune, Chennai, Bengaluru, Delhi-NCR, Hyderabad, Kolkata and Mumbai.The company’s teams in research, incubation, innovation and the Co-Innovation Network have worked on the ‘Ideas to Execution’ process, and delivered value to business and to social causes as well, the report said.
As of March 31, 2018, TCS has applied for 3,916 patents, including 522 applied during the year. It has been granted 654 patents till date.