Press Release
CMC Q3 revenue increases 45% year-on-year
Highlights
- Operating revenue at Rs.395.84 crore - growth of 45% y-o-y and 11% q-o-q
- EBITDA at Rs.60.02 crore - Growth of 19% y-o-y and 14% q-o-q.
- Broad based growth in India and international markets;International business share at 61.5% during Q3.
- American Subsidiary grows 55% y-o-y in dollar terms.
- 21 new clients addition during the quarter.
- Net addition of 1474 employess during the quarter;cummlative addition of 2578 employees during first nine months
New Delhi,January 13,2012
CMC Limited announced consolidated Operating revenue of Rs.395.84 crore in quarter ending December 31,2011,which represents 45% growth over the corresponding period last year and sequential growth of 11%. The company earned profit after tax of Rs.41.37 crore,representing sequential growth of 27%.
On a cumulative basis the Company earned operating revenue of Rs. 1058.04 crore in first nine months of current financial year, resulting in growth of 34% over corresponding period last year.
The company has added 1474 employees during the current quarter buoyed by the growth in business.The attrition rate during the quarter fell to 18.7% from 22.2% in the previous quarter.
"The company has built strong growth momentum in challenging business environment with all geographies contributing to growth" said R Ramanan,CEO and MD. "The company added 21 clients across geographies" he added.
Awards And Certifications
- CMC was assessed at PCMM level 3 during the quater reflecting world class people processes.
- The company was conferred certificate of Excellence in Corporate Governance Practices by The Institute of Company Secretary of India for the second consecutive year at the ICSI National Award for Excellence in Corporate Governance-2011.
- CMC's Treasury Solution to Odisha Government won the CSI-Nihilent eGovernance Award.
About CMC Limited
Incorporated in 1975,CMC is a pioneer Information Technology Solutions provider in India and is a subsidary of Tata Consultancy Services Limited, Asia's largest software Company.Operating out of 18 offices and 180 service locations in the country,CMC employs around 7400 people and has a wholly owned subsidary in USA called CMC Americas,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.
Contact:
Shivanand Kanavi,
Email: shivanand.kanavi@cmcltd.com;
Cell: +919820225869