CMC PAT grows 69% at Rs 20 cr
Business Standard, January 16, 2007
Mumbai: CMC, a subsidiary of Tata Consultancy Services, reported a 69.04 per cent rise in net profit at Rs 20.40 crore during the quarter ended December 31, 2006, compared with Rs 12.07 crore during the corresponding period last year.
Its consolidated revenues (including revenues of CMC Americas, its wholly owned subsidiary) too increased to Rs 300.41 crore during the third quarter, a rise of 41.76 per cent over the last year's corresponding period of Rs 211.90 crore.
CMC's net profit rose 77.44 per cent sequentially from the previous quarter's Rs 11.94 crore, while its revenue registered a sequential rise of 24 per cent over the last quarter's Rs 242.25 crore. All its segments - customer services, systems integration, ITeS and education/training - showed an increase in revenues.
Customer services, the largest business segment accounting for around 67 per cent of CMC's business, saw a YoY rise of 58.71 per cent and 44.76 per cent QoQ increase.
The stock closed the day at Rs 907.35, up 30 per cent.