CMC net drops 18 per cent
By Our Corporate Bureau | 13 Oct 2005
Mumbai: TCS's subsidiary CMC Ltd has reported an 18.46-per cent decline in consolidated net profit for the quarter ended September 2005 at Rs10.55 crore against Rs12.94 crore in the quarter ended September 2004.
Consolidated revenues grew 14.11 per cent for the quarter at Rs210.01 crore against Rs184.03 crore in the corresponding period of last year.
The consolidated net profit of the company slipped by 16.28 per cent to Rs26.52 crore for the half year ended September 2005 against Rs31.68 crore in the corresponding previous period.
Total revenues increased to Rs425.20 crore, 13.38 per cent higher than Rs375.01 crore clocked in the corresponding period of last year.
The wholly-owned subsidiary of the company, CMC Americas Inc, continued its better performance with a 45-per cent growth in revenues to $12.86 million for the half year ended September 2005 compared with $8.87 million in the corresponding period in the previous year. The growth in the revenues of CMC Americas is primarily attributed to increased embedded systems business.