CMC's revenues jump 35 per cent to Rs 183.9 crore for Q2; profit before tax up 49 per cent to Rs 12.5 crore
Mumbai, October 21, 2003

CMC Limited, India's premier IT company of Tata group today announced its un-audited financial results for the quarter ended September, 2003. The total revenues of the company jumped 35 per cent to Rs 183.9 crore compared with Rs 136.2 crore in the corresponding period last year. The company earned profit before tax of Rs 12.5 crore recording an increase of 49 per cent over the corresponding period of previous year. The company's total revenue for half year ended September, 2003 were Rs 343.2 crore registering an increase of 47 per cent compared with Rs 234.0 crore in the corresponding period last year. The profit before tax during the same period was Rs 24.3 crore registering an increase of 36 per cent compared with the corresponding period last year.

The consolidated revenues of the company along-with its wholly owned subsidiary, CMC Americas, Inc for the half year ended September, 2003 was Rs 364.8 crore. The consolidated profit before tax was Rs 23.4 crore.

Commenting on CMC's performance during the first half of current year Mr R Ramanan, DMD and COO, said, "The Company has turned out another quarter of strong performance in terms of new order booking and revenues. The company has booked new orders worth over Rs 200 crore during the quarter ended September, 2003. The company continues to occupy prominent position in state and central government, BFSI, oil and petro, railways and defence segments of the market. Stock exchange, ports and cargo, embedded systems and biometric solutions of the company made further inroads in the international markets during the quarter."

Outlining the strategies for growth, Mr S S Ghosh, MD and CEO said, "The company's endeavour is to expand its global market reach with its large array of IT solutions and competencies. The volume of overseas business through its offshore and onsite operations has produced encouraging results during the quarter. We are expanding our offshore facilities and giving added emphasis on skill building to further augment our overseas revenues."

About CMC
Founded in 1976, CMC is one of the premier information technology solutions providers in India, with a consolidated turnover of Rs 679 crore for 2002-03. Operating out of 18 offices and more than 150 service locations in the country, CMC Limited employs over 3,300 people and has a wholly owned subsidiary in USA called CMC Americas, Inc. (formerly known as Baton Rouge International Inc.)

CMC's vision is to operate globally and bring the benefit of information technology to improve the productivity of its customers and the quality of its customer's products and services. CMC combines horizontal expertise in information technology with its vertical experience developed by working in a wide range of Industries. After the successful disinvestment of CMC by the Government of India, CMC has become part of Tata group and closely working with TCS Asia's largest software company.

Contact
Head Corporate Communication
PTI Building,
5th Floor, 4 Sansad Marg
New Delhi - 110 001
Tel: 91-11-23736151-8
Email: svr@cmcltd.com