CMC net profit rises 47.59 %
11 January 2013
IT solutions provider CMC has posted a 47.59 per cent rise in net profit at Rs 61.06 crore on a consolidated basis for the quarter ended 31 December 2012, compared with Rs41.37 crore posted for the same period a year ago.
The company's, a subsidiary of the country's largest software exporter Tata Consultancy Services, consolidated operating revenue rose 24 per cent to Rs492.69 crore during the reporting period.
''The company has maintained its growth momentum led by systems integration and IT-enabled services. We continue to see good traction for our offerings across all business segments and geographies,'' said R Ramanan, CEO and MD.
''The company added 26 clients across geographies'' he added. CMC added 473 employees during the quarter taking the total employee count to 11,224.
''The company was able to improve EBITDA margin by over 160 basis points year-on-year through improved business mix and operational efficiencies,'' said J.K. Gupta, CFO, adding, ''increased offshore business from SEZ-enabled improvement of PAT margin by 200 basis points year on year.''