CMC jumps on reporting 66.63% rise in Q1 net profit

CMC is currently trading at Rs. 915.00, up by 51.15 points or 5.92% from its previous closing of Rs. 863.85 on the BSE.

The scrip opened at Rs. 895.00 and has touched a high and low of Rs. 949.80 and Rs. 888.00 respectively. So far 15,720 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1200.00 on 15-Jul-2011 and a 52 week low of Rs. 685.00 on 18-May-2012.

Last one week high and low of the scrip stood at Rs. 949.80 and Rs. 848.40 respectively. The current market cap of the company is Rs. 2,772 crore.

The promoters holding in the company stood at 51.12% while Institutions and Non-Institutions held 40.76% and 8.12% respectively.

On standalone basis, the company has posted a rise of 66.63% in its net profit at Rs 43.59 crore for the quarter ended June 30, 2012 as compared to Rs 26.16 crore for the same quarter in the previous year. Total income has increased by 27.93% at Rs 266.31 crore for quarter under review as compared to Rs 208.16 crore for the quarter ended June 30, 2011.

On consolidated basis, the company has posted a rise of 67.52% in its net profit at Rs 58.43 crore for the quarter ended June 30, 2012 as compared to Rs 34.88 crore for the same quarter in the previous year. Total income has increased by 48.01% at Rs 452.28 crore for quarter under review as compared to Rs 305.58 crore for the quarter ended June 30, 2011.

CMC is a Tata group firm and subsidiary of the country's top software company TCS. The company operates in four strategic business units namely customer services (CS), Systems Integration (SI), IT enabled Services (ITES) and Education and Training (E&T). The company has pan-India presence that caters to various sectors such as the railways, banks, government entities and other organisations with countrywide operations.