Financial Daily from THE HINDU group of publications
Wednesday, Apr 28, 2004
Financial Daily from THE HINDU group of publications Wednesday, Apr 28, 2004 |
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Corporate Results
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Software Info-Tech - Software CMC revenues up 24 pc Our Bureau
Hyderabad , April 27 CMC Ltd's revenues have increased by 24 per cent to Rs 763.67 crore in 2003-2004 compared to Rs 614.73 crore in the previous year and the profit after tax stands at Rs 47.99 crore, up by 30 per cent over last year. The consolidated revenues of the company along with that of its wholly owned subsidiary, CMC Americas Inc, were Rs 801.75 crore, recording an increase of 18 per cent over Rs 679.09 crore last year. The consolidated profit after tax increased by 23 per cent to Rs 44.77 crore. The board has proposed a dividend of Rs 5.50 per share against Rs 4 per share paid past year, subject to the approval of the shareholders. The Chief Financial Officer of CMC, Mr. J.K.Gupta, in a statement said "The revenue growth during the year has been mainly driven by Customer Services SBU solutions in the domestic market and Systems Integration SBU solutions in the international market. The growth of 19 per cent in international service revenue helped bring down the effective tax rate for the year from 34.6 per cent to 27 per cent''.
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