CMC net profit at Rs 15 crore
Business Standard, July 18, 2006

TCS subsidiary CMC has posted net profit of Rs 14.95 crore in the first quarter ended June 30, 2006. It had posted Rs 15.33 crore during the same period of the previous financial.

The results are not comparable as other income for the quarter ended June 2005, includes Rs 13.96 crore on account of profit on sale of land and residential properties.

The company's total income rose to Rs 232.35 crore, up 14 per cent, during the quarter under review, compared to Rs 204.50 crore recorded during the comparative period of previous financial.

The group has posted a net profit of Rs 16.16 crore during the quarter under review, as against Rs 15.97 crore recorded during the same period a year ago.

The group's total income rose to Rs 252.05 crore, up from Rs 215.18 crore recorded in the first quarter of previous fiscal, the company said.

CMC's wholly-owned US subsidiary, CMC Americas continued to drive international growth with revenues of $8.65 million at the end of the quarter, an increase of 42 per cent over the corresponding period last year.

International business increased by 61 per cent compared to the corresponding period last year, while its share in total operating revenue increased to 29 per cent compared to 22 per cent in the corresponding period last year.