Published on Fri, Jul 17, 2009

A day before India's largest It firm Tata Consultancy Services announces its first quarter results for 2009-10, its subsidiary CMC reported a jump of 70 per cent in its ITeS (IT-enabled Services)  business, largely due to a revival in the US market. "Our international business, that is the US market, almost doubled year-on-year. It grew from Rs 7 crore to Rs 16 crore this quarter. The margins of the ITeS business also moved up from 12 per cent to 38 per cent Y-o-Y," CMC's Chief Financial Officer JK Gupta said. CMC registered 5 per cent sequential growth in the US market and saw a 27 per cent growth year-on-year.

BS Reporter