CMC slips after poor Q4 outcome

CMC fell 0.82% to Rs 2,021 at 09:45 IST on BSE after consolidated net profit declined 2.13% to Rs 70.58 crore on 4.75% rise in total income to Rs 670.71 crore in Q4 March 2015 over Q3 December 2014.

The result was announced after market hours yesterday, 9 April 2015.

Meanwhile, the BSE Sensex was down 11.76 points, or 0.04%, to 28,873.45

On BSE, so far 3,273 shares were traded in the counter, compared with an average volume of 5,751 shares in the past one quarter.

The stock hit a high of Rs 2,030 and a low of Rs 2,011.10 so far during the day. The stock hit a record high of Rs 2,403 on 8 September 2014. The stock hit a 52-week low of Rs 1,355 on 19 May 2014.

The mid-cap stock has an equity capital of Rs 30.30 crore. Face value per share is Rs 10.

CMC's consolidated net profit fell 1.2% to Rs 277.12 crore on 12.1% rise in total income to Rs 2527.81 crore in the year ended 31 March 2015 over the year ended 31 March 2014.

CMC's board of directors at its meeting held yesterday, 9 April 2015, recommended dividend of Rs 27.50 per share for the year ended 31 March 2015.

CMC is a systems engineering and integration company, offering application design, development, testing services and asset-based solutions in niche segments through turnkey projects for mission critical systems. CMC has also been expanding its service presence in international markets offering offshoring advantages and delivering value through service level-based and project scope-based deliveries.

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