CMC Q2 revenues up 35%

MUMBAI: CMC Ltd has recorded an increase of 35 percent in total revenue to Rs 183.9 crore for the quarter-ended quarter ended September 2003 as compared with revenue of Rs 136.2 crore in the corresponding period last year. The Company earned profit before tax of Rs. 12.5 crore recording an increase of 49 percent over the corresponding period of previous year.

The company's total revenue for half year ended September 2003 was Rs 343.2 crore registering an increase of 47 percent compared with Rs 234 crore in the corresponding period last year. The profit before tax during the same period was Rs 24.3 crore registering an increase of 36 percent compared with the corresponding period last year.

The consolidated revenues of the company along with it's wholly owned subsidiary, CMC Americas, Inc. for the half-year ended September 2003 was Rs 364.8 crore. The consolidated profit before tax was Rs 23.4 crore.

Outlining the strategies for growth, CMC’s MD and CEO, SS Ghosh said, "the company's endeavor is to expand its global market reach with its large array of IT solutions and competencies. The volume of overseas business through its offshore and onsite operations has produced encouraging results during the quarter. We are expanding our offshore facilities and giving added emphasis on skill building to further augment our overseas revenues."

(CNS)