CMC not affected excessively by rupee volatility

CMC has declared its first quarter numbers. It has posted consolidated net profit of Rs 23.64 crore for the quarter ended June 2008 as against Rs 24.01 crore in previous quarter.

Key Takeaways from CMC concall:

Its consolidated net sales stood at Rs 281.21 crore versus Rs 261.06 crore, QoQ.

Q1 dip in ITES and Education; ITES - due to project delay & Education – seasonality

America sub grew by 6% QoQ

Not affected excessively by rupee volatility; Forex gains 73 lakhs  

CMC – Focus areas

• Focussing on value added services; addressing SI and IMS, defocusing away from pure equipment sale business
• Focussing on Ports, cargo, Insurance, defence, transportation, egovernance
• ITES – end to end digitations
• Embedded systems
• Education and Training – corporate, retail  

Salary hikes in Q2

Have got back into the grove of adding embedded services

Won couple of defence and education orders

Bidding for big defence opportunities

Looking at working with international partners who have offset criteria

Except some order flow in months time from defence