CMC, a subsidiary of TCS, reported consolidated net profit of Rs 151.81 crore for the year ended March 2012. It was 15% lower compared to Rs 179.40 crore at the end of fiscal 2011. However, the company saw revenues of Rs 1,469.34 crore, nearly 36% higher than the fiscal before.
The margins were down because of investments in onsite ramp-ups. The taxes paid by the company nearly doubled to Rs 68 crore in FY12. The effective tax rate for 2011-12 increased to 31.1% from 15.3% in the previous year. This was due to discontinuation of concessional tax treatment for STPs.
The software solutions company has added 14 new clients in this quarter. They have also added 800 employees in the March 2012 quarter.
The company has proposed a dividend of Rs 12.50 (125%) per share on equity share of par value of Rs 10 for the year ended March 31, 2012.
