CMC net up 13.6 per cent

The Hindu Business Line - April 19, 2008

MUMBAI : CMC Ltd, a subsidiary of Tata Consultancy Services, has reported a 13.6 per cent rise in standalone net profit for the quarter ended March 31 to Rs 30.7 crore from Rs 27 crore reported in the corresponding quarter a year ago. However, the revenues for the quarter saw a marginal dip of 2.2 per cent to Rs 245.49 crore (Rs 251.1 crore), owing to a 3.6 per cent decline in its equipment revenues.

For the year ended March, the company reported a 37.9 per cent surge in net profit to Rs 117.11 crore as against Rs 84.87 crore recorded in the corresponding year ago period. Revenues were flat at Rs 989.1 crore. “In pursuit of continuing focus on improvement in business mix, the company increased its services business revenue share by 90 basis points to 63.5 per cent by corresponding reduction in equipment business,” said Mr R Ramanan, CEO and Managing Director. The American geography contributed with a 18 per cent growth over previous year, he added.– Our Bureau