Value-added services take CMC net up 78%
The Hindu Business Line, January 14, 2007

Our Bureau

Mumbai: CMC Ltd, a subsidiary of Tata Consultancy Services Ltd, has reported a 78.8 per cent increase in net profit for the third quarter ended December 31, 2006.

Net profit for the quarter amounted to Rs 19.24 crore against Rs 10.76 crore in the corresponding year-ago period. Revenues at Rs 288 crore (Rs 196 crore) rose 47 per cent.

"The propeller for growth has been the significant repositioning of our businesses, focused more towards value added services, including ITES and systems integration," said Mr J.K. Gupta, Chief Financial Officer, CMC.
The margin expansion on a sequential basis and quarter-on-quarter basis has been 270 basis points and 400 basis points, respectively, added Mr Gupta.

On Friday, the CMC stock had risen by 0.61 per cent to close at Rs 697.95 on the BSE.