Improved operational efficiencies and business mix saw CMC, a subsidiary of Tata Consultancy Services (TCS), on Friday, report a 48 per cent growth in its consolidated net profit at Rs.61.06 crore for the third quarter of 2012-13.
A statement from CMC said the consolidated operating revenue at Rs.492.69 crore was up 24 per cent. The operating profit was up 38 per cent at Rs.82.22 crore.
“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 & MD, CMC, said in a statement.
International business accounted for 68.3 per cent of total business. The company added 26 clients across geographies and had a net addition of 473 employees during the quarter taking the total employee count to 11,224.
“The company was able to improve operating margin by over 160 basis points year-on-year,’’ said J. K. Gupta, CFO, CMC, adding “increased offshore business from SEZ enabled improvement of net margin by 200 basis points year on year,” he said.
For the nine months ended December 2012, on a cumulative basis, CMC’s net profit was up 55 per cent at Rs.169 crore and operating revenue was up 33 per cent at Rs.1,403.22 crore.
