Mumbai: CMC Limited, a subsidiary of Tata Consultancy Services, announced its financial results for the quarter ended June 30, 2006.

CMC 's total revenue (including other income) increased by 14 per cent to Rs 232.35 crore for the quarter ended June 30, 2006 compared with Rs 204.50 crore (including Rs 13.96 crore earned from sale of properties) in the corresponding period last year. CMC's operating revenues increased by 22 per cent to Rs 231.53 crore compared to Rs 189.87 crore in the corresponding period last year.

Operating profit (EBITDA before other income) increased by 73 per cent to Rs 20.46 crore compared with Rs 11.84 crore earned in the corresponding period last year. The company's profit after tax for the period was Rs 14.96 crore compared with Rs 15.33 crore in the corresponding period last year.

The consolidated operating revenues of the company along with its wholly owned subsidiary, CMC Americas, for the quarter ended June 30, 2006 was Rs 251.23 crore, an increase of 25 per cent compared to Rs 200.55 crore earned in the corresponding period in the previous year. The consolidated profit after tax for the quarter ended June 2006 was Rs 16.16 crore.

CMC's wholly-owned US subsidiary, CMC Americas Inc. 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 with corresponding period last year and share of international business in total operating revenue increased to 29 per cent compared with 22 per cent in the corresponding period last year

"Sustained growth in the American and UK markets have helped CMC to achieve impressive growth in international business. We won new engagements in IT enabled services, insurance and embedded systems as well as a significant digitization assignment from a large utility company in UK in synergy with TCS", said R Ramanan, CEO and MD of CMC Ltd.  The initiatives taken to restructure CMC's business mix, improved productivity of its professionals and world-class process deployment are becoming visible in terms of growth in the company's profitability, he added.

''By improving its revenue mix, offering more value added services as well as by growing its international business, CMC has been able to expand its margins by 300 basis points across all measures of profitability," said JK Gupta, Chief Financial Officer. The share of service revenues as part of total operating revenue increased to 60 per cent compared with 52 per cent in the corresponding period last year, he added.

CMC's proposal to set up a sector specific Special Economic Zone for IT / ITeS sector at its Gachibowli campus spread across an area of 20.59 hectares has been approved by the ministry of commerce and industry.

Incorporated in 1975, CMC is one of the premier Information Technology solutions providers in India and is a subsidiary of Tata Consultancy Services Limited, Asia's largest software Company. CMC had a consolidated turnover of Rs 916.15 crore for 2005-06. Operating out of 18 offices and 180 service locations in the country, CMC employs around 3500 people and has a wholly owned subsidiary in USA called CMC Americas, Inc.

CMC's vision is to operate globally and bring the benefit of send this article to a friend Information Technology to improve the productivity of its customers and the quality of its customer's products and services. CMC combines horizontal expertise in Information Technology with its vertical experience developed by working in a wide range of Industries.