CMC has surged 6% to Rs 1,452 on BSE after reporting a strong 36% year-on-year (yoy) growth in consolidated net profit at Rs 67.31 crore for the second quarter ended September 2013 (Q2) on back of higher operational income.
The company’s consolidated revenue rose by 22% yoy to Rs 561 crore during the second quarter, CMC, a subsidiary of Tata Consultancy Services (TCS) said in a statement.
EBITDA margins however remain flat at around 16% during the recently concluded quarter.
“The company has maintained its margins after providing for salary hikes to its employees,” said R. Ramanan, chief financial officer and managing director.
CMC added 19 new clients in the quarter.
The stock opened at Rs 1,449 and touched high of Rs 1,474 on BSE. A combined around 25,000 shares change hands in early morning deals on BSE and NSE.
The company’s consolidated revenue rose by 22% yoy to Rs 561 crore during the second quarter, CMC, a subsidiary of Tata Consultancy Services (TCS) said in a statement.
EBITDA margins however remain flat at around 16% during the recently concluded quarter.
“The company has maintained its margins after providing for salary hikes to its employees,” said R. Ramanan, chief financial officer and managing director.
CMC added 19 new clients in the quarter.
The stock opened at Rs 1,449 and touched high of Rs 1,474 on BSE. A combined around 25,000 shares change hands in early morning deals on BSE and NSE.
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