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.

Read more on:    Cmc | It | Tcs
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:   
|
|

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.

Quick Links

 

Market News

Plea against MF body as self-regulator admitted

The Securities Appellate Tribunal (SAT) has admitted an appeal against a decision on approval given for setting up a regulatory organisation for ...

El Niño worries inflation managers

RBI has decided to consider inflation based on new series CPI in which half of the weight is for food, beverages and tobacco

Coffee at 26-month high as Brazil drought raises price volatility

Coffee futures jumped as much as 8.3 per cent, driving volatility to the highest since 2000

JSW Steel mulls using Goan ore for Dolvi plant

The company plans to participate in e-auctions at Goa as and when the ore with 58% Fe is auctioned

SC ruling on Goa mining may hurt 19 Odisha mines

The average combined annual production of these mines works out to about 0.4 mt

Back to Top