CMC posts 69% growth in PAT yoy

CMC, a subsidiary of Tata Consultancy Services, netted Rs 20.40 crore during the quarter ended December 31, 2006 - an increase of 69% over last year's figure of Rs 12.07 crore during the corresponding period.

Its consolidated revenue (including revenues of CMC Americas, its wholly-owned subsisidiary) too increased to Rs 300.41 crore during the third quarter, a rise of 41.76% when compared to last year's figure of Rs 211.90 crore for the corresponding period.

CMC's net profit rose 77.44% sequentially from the last quarter's figure of Rs 11.94 crore while its revenue registered a sequential rise of 24% over last quarter's figure of Rs 242.25 crore.

All the segments - customer services, systems integration, ITeS and education/training - have shown an increase in revenues. The largest business segment (customer services accounts for around 67%of CMC's business) saw a YoY rise of 58.71% and 44.76% QoQ increase.

In the morning hours of trading, the stock has registered a 31% rise. The stock opened at Rs 728.