CMC profit swells 67.5%

 Tata Group firm CMC posted 67.5 per cent rise in net profit at Rs 58.43 crore for the quarter ended June 30, 2012 on the back of strong growth in domestic and international market and higher revenues from SEZ operations.

The IT company’s net profit for the April-June 2011 quarter stood at Rs 34.88 crore.
“Revenues from both India and international market has grown. Americas business has also increased eight per cent quarter-on-quarter, while SEZ revenues are also up. All these factors have contributed to strong growth in our numbers,” CMC Managing Director & Chief Executive Officer Ramanathan Ramanan said.

CMC also recorded its highest ever quarterly revenue at Rs 452.28 crore in the reported quarter as against Rs 305.58 crore, up 48 per cent. This was on the back of broad based growth with all business segments, he said.

The company’s revenues from customer services segment stood at Rs 90.17 crore (from Rs 75.42 crore), system integration at Rs 264.38 crore (vs Rs 170.53 crore) and IT enabled services at Rs 71.34 crore (from Rs 42.88 crore).

SEZ revenues stood at Rs 12.48 crore (up from Rs 3.97 crore) and that from education and training was at Rs 13.89 crore (compared to Rs 12.77 crore). Its cash and cash equivalent stood at Rs 236 crore, an increase of Rs 26 crore during the quarter.

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