CMC net rises 7.4% at Rs 10.89 crore

CMC has posted a net profit of Rs 10.89 crore for the quarter ended December 31, 2003, a 7.4 per cent growth when compared with Rs 10.14 crore for the same quarter of the previous year.

Total income has increased 44 per cent to Rs 201.77 crore (Rs 140.55 crore). Net profit in the nine months ended December 31 stood at Rs 27.45 crore, a 18 per cent growth over Rs 23.23 crore posted in the same period of the last fiscal.

Revenue was up 46 per cent at Rs 544.903 crore (Rs 374.45 crore). CMC's profits before tax for the third quarter was up 16 per cent at Rs 16.48 crore.

Its profit before tax showed a growth of 27 per cent at Rs 40.75 crore in the nine months ended December 31, 2003. The consolidated revenues of the company including its wholly owned subsidiary CMC America was Rs 209.89 crore and the consolidated profits were at Rs 8.62 crore in the third quarter of 2003.

The consolidated revenues in the nine months period stood at Rs 574.69 and the consolidated profits were at Rs 23.94 crore.