CMC posts flat growth

The Hindu Business Line - July 15, 2008

MUMBAI:Tata group Company CMC has reported a flat growth in net profit for the first quarter ended June 30, 2008.

The city-based company’s net profit stood at Rs 23.64 crore as against Rs 23.41 crore reported in the same quarter a year ago. However, on a sequential basis, the net profit slipped by 1.2 per cent from Rs 24.02 crore.

CMC’s customer services and system integration strategic business units handle IT solutions and manage turnkey projects by providing services across the entire gamut of IT infrastructure components.

CMC also has an ITES division, which handles back-office processes, call-centre services and an education and training division, which provides IT education services to college graduates and corporate professionals.

CMC`s revenue for the quarter grew by 18 per cent to Rs 285.35 crore (Rs 240.75 crore).

Reacting to the development, the company’s scrip was down by 4.82 per cent to close at Rs 555.2 on the BSE.