Information technology company CMC, a subsidiary of Tata Consultancy Services (TCS), today posted a 25 per cent jump in net profit to Rs 45.37 crore in the third quarter driven by healthy growth in its international business.
The company's net profit for the corresponding October-December period last year was Rs 36.25 crore.
It added 24 clients during the quarter, including eight international ones in embedded systems space, Managing Director and Chief Executive of the company R Ramanan told reporters here.
The company's international business grew 35 per cent during the reporting period, while the domestic business was up 23 per cent. The overseas business accounts for half of the company's revenues, Chief Financial Officer J K Gupta said.
Globally, the company will be leveraging on its expertise in the biometric and ports solutions space, Ramanan said, adding it will be looking at tapping clients in the SAARC region and Africa while it also sees good opportunity in Europe.
Both Ramanan and Gupta refused to give any guidance on targeted business during the last quarter but sounded confident of maintaining growth.
Domestically, sectors like e-governance, power, infrastructure, banking and financial services and the opportunity created by the UID (Unique Identity project) work will be the growth drivers, Ramanan said, adding he also expects larger contracts from the defence sector which will take more time to materialise.
To a question, he said there are no plans "as of now" to merge CMC with its parent TCS.
