Business Standard

CMC surges as Q3 net up 27% q-o-q

SI Reporter  |  Mumbai 

has rallied 7% to Rs 982 after reporting 27% quarter-on-quarter (q-o-q) growth in its consolidated at Rs 41.37 for the third quarter ended December 2011. Revenue was up 8% at Rs 396 crore on q-o-q basis.

However, on year-on-year basis, the company has reported 9% drop in net profit from Rs 45.37 crore in December 2010 quarter. in the quarter though were up 45% from Rs 273 crore, the Tata Group company said in a filing to the stock exchanges after market hours Friday.

“Though sequentially our profits grew (27%), the drop y-o-y has been because of STP tax benefit going off this year. Our SEZ business at Hyderabad is taking time to stabilise and transition will take two years," said J K Gupta, CFO, CMC.

During the quarter, CMC added 1,474 employees and reported lower of 18.7%.

A combined 68,558 shares have already changed hands on the counter in early morning deals, against an average less than 50,000 shares that were traded daily in past two weeks on the NSE and BSE.

RECOMMENDED FOR YOU

CMC surges as Q3 net up 27% q-o-q

CMC has rallied 7% to Rs 982 after reporting 27% quarter-on-quarter (q-o-q) growth in its consolidated net profit at Rs 41.37 for the third quarter ended December 2011. Revenue was up 8% at Rs 396 crore on q-o-q basis.

has rallied 7% to Rs 982 after reporting 27% quarter-on-quarter (q-o-q) growth in its consolidated at Rs 41.37 for the third quarter ended December 2011. Revenue was up 8% at Rs 396 crore on q-o-q basis.

However, on year-on-year basis, the company has reported 9% drop in net profit from Rs 45.37 crore in December 2010 quarter. in the quarter though were up 45% from Rs 273 crore, the Tata Group company said in a filing to the stock exchanges after market hours Friday.

“Though sequentially our profits grew (27%), the drop y-o-y has been because of STP tax benefit going off this year. Our SEZ business at Hyderabad is taking time to stabilise and transition will take two years," said J K Gupta, CFO, CMC.

During the quarter, CMC added 1,474 employees and reported lower of 18.7%.

A combined 68,558 shares have already changed hands on the counter in early morning deals, against an average less than 50,000 shares that were traded daily in past two weeks on the NSE and BSE.

image

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

Widgets Magazine

More News

STOCK WATCH

Company Price() Chg(%)
Claris Lifescien 168.30 7.47
Prestige Estates 186.50 5.43
BASF India 973.50 5.23
Castex Tech 8.30 4.93
Shilpa Medicare 492.00 4.65
> More on BSE Gainers
Company Price() Chg(%)
Prestige Estates 187.00 5.68
BASF India 972.00 4.92
Federal Bank 49.15 4.80
Castex Tech 8.10 4.52
Cholaman.Inv.&Fn 880.00 4.01
> More on NSE Gainers
Company Price() Chg(%)
Adani Ports 207.80 -11.91
Indo Count Inds. 950.80 -10.27
S A I L 42.65 -7.48
Adani Enterp. 79.95 -6.87
Natl. Aluminium 43.65 -6.83
> More on BSE Gainers
Company Price() Chg(%)
Adani Ports 207.75 -11.78
Indo Count Inds. 949.00 -10.85
S A I L 42.55 -7.60
Adani Enterp. 79.85 -7.04
Natl. Aluminium 43.60 -6.74
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard