CMC lost 2.16% to Rs 1,379.90 at 10:32 IST on BSE after the company said its consolidated net profit rose 0.49% to Rs 61.33 crore on 6.28% growth in total income from operations to Rs 523.96 crore in Q4 March 2013 over Q3 December 2012.
The company announced Q4 results after market hours on Monday, 15 April 2013.
Meanwhile, the S&P BSE Sensex was up 164.16 points or 0.89% at 18,521.96.
On BSE, 12,543 shares were traded in the counter as against average daily volume of 4,982 shares in past one quarter.
The stock hit a high of Rs 1,399.85 and a low of Rs 1,307.25 so far during the day. The stock had hit record high of Rs 1,523 on 9 April 2013. The stock had hit a 52-week low of Rs 685 on 18 May 2012.
The stock had outperformed the market over the past one month till 15 April 2013, surging 8.39% compared with the Sensex's 5.51% fall. The scrip had also outperformed the market in past one quarter, rising 3.19% as against Sensex's 8.15% fall.
The mid-cap company has equity capital of Rs 30.30 crore. Face value per share is Rs 10.
CMC's consolidated net profit jumped 51.65% to Rs 230.23 crore on 31.2% growth in total income from operations to Rs 1927.86 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).
CMC said it has added 80 clients during FY 2013.
Commenting on the company's performance, R Ramanan, CEO, MD, CMC said, "We are pleased with all round growth in the company performance in spite of challenging market conditions. The growth has been broad based with all business segments contributing to growth. The company's software solutions found increased acceptance in new geographies, particularly Middle East and Africa".
Improved business mix and operating cost efficiencies enabled the company to expand its operating margin by 124 basis points in FY 2013, said JK Gupta, CFO, CMC.
CMC's board of directors at a meeting held on Monday, 15 April 2013, recommended a dividend of Rs 17.50 per share for FY 2013.
CMC is a leading system engineering and integration company in India and is a subsidiary of Tata Consultancy Services (TCS). CMC operates out of 18 offices and 180 service locations in the country. The company has a wholly-owned subsidiary in US, CMC Americas Inc.
Powered by Capital Market - Live News
