CMC, a subsidiary of Tata Consultancy Services (TCS) has reported highest quarterly revenue of Rs. 452.28 crore in the first quarter of FY13 resulting in an increase of 11% q-o-q and 48% y-o-y.
The Company earned consolidated Profit after Tax (PAT) of Rs. 58.43 crore, an increase of 36% q-o-q and 68% y-o-y. PAT margin was at 12.76% compared to 10.32% in the previous quarter and 11.32% in Q1 of last year.
R Ramanan, MD & CEO, CMC Ltd. said, “The growth has been broad based with all business segments contributing to the growth. The American subsidiary of the Company, CMC Americas; Inc. grew 8% q-o-q and 40% y-o-y in Dollar terms. The Company added 20 clients during the quarter. ”
J.K.Gupta, Chief Financial Officer, CMC said, “Our EBITDA margins have increased to 16.64 per cent this quarter compared with the 14.45per cent last quarter. Increase in international business and increased capacity utilization in SEZ helped the company reduce effective tax rate to 22.6% from 28.1% in the previous quarter” “The Company had cash and cash equivalent of Rs. 236 crore at the end of June, 2012.”
