Mumbai: CMC, a subsidiary of Tata Consultancy Services, posted its highest quarterly
revenue of Rs452.28 crore in the first quarter of FY13, an increase of 11 percent Q-o-Q
and 48 percent Y-o-Y
The company earned consolidated profit after tax (PAT) of Rs58.43 crore, an increase of 36 percent Q-o-Q and 68 percent Y-o-Y. The PAT margin was at 12.76 percent compared to 10.32 percent in the previous quarter and 11.32 percent in Q1 of last year.
Speaking after the results, R Ramanan, MD and CEO, CMC, said, “The growth has been broad based with all business segments contributing to the growth. The American subsidiary of the company, CMC Americas Inc, grew 8 percent Q-o-Q and 40 percent Y-o-Y in dollar terms. The company added 20 clients during the quarter. Our EBITDA margins have increased to 16.6 percent last quarter.”
“Increase in international business and increased capacity utilisation in SEZ helped the company reduce effective tax rate to 22.6 percent from 28.1 percent in the previous quarter," said JK Gupta, chief financial officer, CMC. “The company had cash and cash equivalent of Rs236 crore at the end of June, 2012."