CMC Q3 profit jumps by 48% to Rs 61 crore

On the back of improved business and new client additions,  IT solutions provider CMC today said it has clocked a 47.59 per cent increase in consolidated net profit at Rs 61.06 crore for the quarter ended December 31, 2012.

CMC which is a subsidiary of country's largest software services company Tata Consultancy Service (TCS) had posted a net profit of Rs 41.37 crore during the same period last financial year.    

Total income from operations for the company rose 24.43 per cent at Rs 492.97 crore the second quarter of 2012-13 compared to Rs 396.17 crore in the same period last year.

Net up 48% at Rs 61.06 crore

Operating revenue at Rs 492.69 crore - growth of 24%.

Broad based growth in India and international markets

Net employee addition of 473, taking the total headcount to 11,224        

26 new client addition during the quarter across geographies

“The Company has maintained its growth momentum led by Systems Integration and IT enabled Services. We continue to see good traction for our offerings across all business segments and geographies” R Ramanan, CEO and MD of CMC said.

The company added 26 new clients across geographies during the quarter, Ramanan added.

"During the quarter, CMC has a net employee addition of 473, taking the total headcount to 11,224," he added.

Shares of the company closed at Rs 1,334.85, up 3.44 per cent on Bombay Stock Exchange .