CMC’s revenue up 44 per cent at Rs 201.77 crore
The New Indian Express, Hyderabad, January 30, 2004

CMC Ltd, India’s premier IT company of Tata Group today announced its unaudited financial results for the quarter ended December 2003. The total revenues of the company jumped 44 per cent to Rs 201.77 crores compared with Rs 140.55 crores in the corresponding period last year. The company earned a profit before tax of Rs 16.48 crores recording an increase of 16 per cent over the corresponding period of previous year.

“The company has been able to maintain strong revenue growth rate in this quarter also. The company’s insurance and commodity exchange solutions found wider acceptance with domestic clients both in private and public sector. The company continues to occupy prominent position in state and central government, BFSI, oil and petro, railways and defense segments of the market. Embedded systems and biometric solutions of the company made further inroads in the international markets during the quarter,” said R Ramanan, MD and CEO.