CMC - a subisdary of TCS net marginally up at Rs 23.64 cr
SOURCE: Business Standard
DATE: July 14th, 2008
Mohit Soapbox:
CMC has supposedly been around a while and was major player in the Indian domestic IT market. I wonder if it continues to get a step child treatment within TCS. With all firms having ambitious growth plans in Indian domestic market seems like TCS has not been able to leverage their current platform via CMC to grow.
ARTICLE
CMC, a subsidiary of Tata Consultancy Services (TCS), reported net profit of Rs 23.64 crore for the first quarter ended June 30, 2008 a mere increase of 0.9 per cent from Rs 23.41 crore in the corresponding quarter last financial year.
Revenue of the firm at Rs 285.35 crore for this quarter grew by 18 per cent from Rs 240.75 crore for quarter ended June 30, 2007.
On a sequential basis, the company’s net profit slipped by 1.2 per cent from Rs 24.02 crore for the quarter ended March 31, 2008–and revenue increased by 7 per cent from Rs 265.8 crore.
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