Tata group company CMC has reported a 23 per cent increase in its profit after tax (PAT) in the 2009-10 fiscal at Rs 143.23 crore as against Rs 116.15 crore in the year-ago period.
The IT solution provider's consolidated operating revenue stood at Rs 870.73 crore, a statement issued by the company here said.
CMC is a subsidiary of IT major Tata Consultancy Services (TCS).
CMC's operating margins also increased substantially which the company ascribed to a planned change in the business-mix -- moving out of low margin equipment business and focusing more on value-adding solutions and services business.
The company announced an increase in dividend to Rs 20 per share for FY10 as against Rs 15 per share for FY09, the statement said.
The firm's stand-alone operating revenues for FY10 stood at Rs 690.01 crore as against Rs 820.45 crore in the year-ago period. Net profit on a stand-alone basis is Rs 129.58-crore, up 23 per cent over Rs 105.57-crore in the year-ago period, the release said.
"The company continues to focus on value-adding business using its core solutions and software assets in various verticals as a key differentiator. It will continue to aim for the right combination of domestic and international business with a view to enhance its margins," CMC's CEO and Managing Director R Ramanan said.