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This is an archive article published on January 13, 2012

CMC Q3 Net down 8.79% at Rs 41

CMC posted 8.79 per cent decline in consolidated net profit.

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IT solutions provider CMC today posted 8.79 per cent decline in consolidated net profit at Rs 41.37 crore for the quarter ended December 31,2011.

The Tata group firm had a net profit of Rs 45.36 crore in the same period previous fiscal.

However,its revenues rose 44.54 per cent to Rs 396.17 crore during third quarter of FY’12 against Rs 274.09 crore in the same period last year.

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“The company has built strong growth momentum in a challenging business environment with all geographies contributing to growth,” CMC CEO and Managing Director R Ramanan said.

During the quarter,CMC added 1,474 employees and reported lower attrition rate of 18.7 per cent.

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