CMC, a subsidiary of Tata Consultancy Services (TCS), reported net profit of Rs 28 crore for the first quarter ended June 30, 2009, up 18.6 per cent from Rs 23.6 crore in the corresponding quarter last financial year.
Revenue for the quarter dipped by 25.4 per cent to Rs 210.9 crore from Rs 283 crore in the same quarter last year.
Sequentially (compared to last quarter), net profit were down 27 per cent from Rs 38.4 crore — and revenue dipped 12 per cent from Rs 240 crore. This was largely due to higher othe income during last quarter and some accounting change. Moreover, the company had a exchange loss of Rs 2.38 crore for this quarter as compared to a gain of Rs 1.7 crore last quarter.
The company’s ITeS segment revenues were up 70 per cent year-on-year and the systems integration business too saw a jump of 10 per cent. But the customer services segment was down 56.9 per cent.
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