Tuesday, January 14, 2014
CMC LIMITED - RESULTS FOR Q3 FY 2013-14 Q E DEC 13 - NPT UP 16% YoY
RESULTS FOR Q3 FY 2013-14
· HIGH LIGHTS
· CMC grows 14% y-o-y in Q3FY14
· Operating revenue at Rs. 560.93 Cr - growth of 14% y-o-y
· Net Profit at Rs. 70.54 Cr – Growth of 16% y-o-y
· International business growth of 13% y-o-y
· 14 new clients addition during the quarter
CMC Limited announced consolidated Operating revenue of Rs. 560.93 Cr in quarter ending December 31, 2013, which represents growth of 14%. The company earned profit after tax of Rs. 70.54 crore, representing growth of 16% y-o-y.
On a cumulative basis the Company earned operating revenue of Rs. 1607.72 crore in the first 9 months of current financial year, resulting in growth of 15% over corresponding period last year.
“The revenue growth in this quarter has been in line with our expectation, considering that traditionally Q3 is not a growth quarter in the international markets” said R Ramanan, CEO and MD.
“The Company continues to find good traction across geographies and added 14 clients during the quarter” he added.
Mr. Ramanan also said “The Company continues to focus on people excellence and was assessed at PCMM level 5 by SEI during the quarter”.
About CMC Limited
Incorporated in 1975, CMC is a pioneer Information Technology solutions provider in India and is a subsidiary of Tata Consultancy Services Limited, Asia’s largest software Company. Operating out of 18 offices and 180 service locations in the country, CMC employs over 10,000 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 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.
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