Business Standard

CMC hits record high on robust Q3 earnings

EBITDA or operating margin have improved by over 160 basis points yoy through improved business mix and operational efficiencies.

Related News

has soared 7% to Rs 1,431 after reporting 48% year-on-year (yoy) jump in consolidated net profit at Rs 61.06 crore for the third quarter ended December 2012 (Q3). The Tata group firm had posted a net profit of Rs 41.37 crore during the same period last financial year.

“Total income from operations grew 24% at Rs 493 crore in Q3 compared to Rs 396 crore in the same period last year,” CMC said in a statement.

“The company was able to improve EBITDA or operating margin by over 160 basis points yoy through improved business mix and operational efficiencies” said JK Gupta, CFO.

“Increased offshore business from SEZ enabled improvement of net profit margin by 200 basis points year on year” he added.

The stock opened at Rs 1,343 and hit a record high of Rs 1,450 on the NSE. A combined around 95,549 shares have changed hands on the counter so far on both the exchanges.

Read more on:   
|
|

CMC hits record high on robust Q3 earnings

EBITDA or operating margin have improved by over 160 basis points yoy through improved business mix and operational efficiencies.

CMC has soared 7% to Rs 1,431 after reporting 48% year-on-year (yoy) jump in consolidated net profit at Rs 61.06 crore for the third quarter ended December 2012 (Q3). The Tata group firm had posted a net profit of Rs 41.37 crore during the same period last financial year.

has soared 7% to Rs 1,431 after reporting 48% year-on-year (yoy) jump in consolidated net profit at Rs 61.06 crore for the third quarter ended December 2012 (Q3). The Tata group firm had posted a net profit of Rs 41.37 crore during the same period last financial year.

“Total income from operations grew 24% at Rs 493 crore in Q3 compared to Rs 396 crore in the same period last year,” CMC said in a statement.

“The company was able to improve EBITDA or operating margin by over 160 basis points yoy through improved business mix and operational efficiencies” said JK Gupta, CFO.

“Increased offshore business from SEZ enabled improvement of net profit margin by 200 basis points year on year” he added.

The stock opened at Rs 1,343 and hit a record high of Rs 1,450 on the NSE. A combined around 95,549 shares have changed hands on the counter so far on both the exchanges.

image

Read More

Trading Strategies: Suzlon Energy, Unity Infra, Titan Industries

Check out how key stocks stakc up on the technical parameters with Ravi Nathani, technical analyst, Nsetoday.com.

Recommended for you

Quick Links

Market News

Nickel rises by 0.1% on Asian cues

Traders strengthened positions amid a firming Asian cues

Oil prices rise further in Asia

Expectations of a decline in US crude inventories and robust economic data from the eurozone helped prices

Markets remain rangebound; HUL up over 2%, Hindalco dips 1%

Investors are optimistic about a possible solution between Greece and its international creditors to avert a debt crisis

Pharma shares in focus; Aurobindo Pharma hits new high

JB Chemicals, Alembic Pharma, Aurobindo Pharma, Ipca Laboratories and Dishman Pharma were up 3%-11% each.

Infinite Computer gains on board approval for share buyback proposal

The stock spurted 5% at Rs 171 after the board approved the buyback of shares at a maximum price of Rs 220 per share from the open market ...

 

Back to Top