CMC lost 4.85% to Rs 1,634.80 at 09:21 IST on BSE after the company reported 4.79% rise in consolidated net profit to Rs 70.54 crore on 0.03% rise in total income from operations (net) to Rs 560.96 crore in Q3 December 2013 over Q2 September 2013.
The Q3 result was announced after market hours on Monday, 13 January 2014.
Meanwhile, the S&P BSE Sensex was up 8.04 points, or 0.04%, to 21,142.25
On BSE, so far 10,986 shares were traded in the counter compared with average volume of 10,823 shares in the past one quarter.
The stock hit a high of Rs 1,675 and a low of Rs 1,593.50 so far during the day. The stock hit a record high of Rs 1,780 on 7 January 2014. The stock hit a 52-week low of Rs 1,106.80 on 5 August 2013.
The stock had outperformed the market over the past one month till 13 January 2014, rising 30.7% compared with the Sensex's 2.02% rise. The scrip also outperformed the market in past one quarter, gaining 23.85% as against Sensex's 2.95% rise.
The mid-cap company has an equity capital of Rs 30.30 crore. Face value per share is Rs 10.
"The revenue growth in this quarter has been in line with our expectation, considering that traditionally Q3 is not a growth quarter in the international markets, said R Ramanan, CEO and MD. The Company continues to find good traction across geographies and added 14 clients during the quarter he added.
Mr. Ramanan also said The Company continues to focus on people excellence and was assessed at PCMM level 5 by SEI during the quarter.
CMC is a pioneer Information Technology solutions provider in India and is a subsidiary of Tata Consultancy Services (TCS). Operating out of 18 offices and 180 service locations in the country, CMC employs over 10,000 people and has a wholly-owned subsidiary in USA called CMC Americas, Inc.
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