The FINANCIAL — CMC Limited announced consolidated operating revenue of Rs2,231 crore for the year ended March 31, 2014, an increase of 16 percent over 2012-13. The company earned profit after tax (PAT) of Rs280 crore, an increase of 22 percent over 2012-13, according to Tata Sons Ltd.
Encouraged by continued improvement in financial performance, the board of directors of CMC Limited recommended enhancement in dividend to Rs22.50 per share.
The company received a favourable decision in a legal case with a customer during Q4 of 2013-14, which has resulted in increase in operating revenue by Rs19 crore and increase in profit after tax by Rs25 crore.
The company added 64 clients during the year, according to Tata Sons Ltd.
“We continue to see good traction and client addition across geographies. Having crossed milestones of Rs600 crore in quarterly revenue and Rs100 crore in quarterly operating profits (EBITDA), we are looking at future with increased confidence”, said R Ramanan, CEO and MD. The company’s software solutions found increased acceptance in new geographies, particularly Middle East, Africa and APAC, he added.
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