Jan 12, 2013 06:23 PM IST | Source: Moneycontrol.com

CMC Q3 profit up 24% to Rs 61 cr, stock at 2-year high

IT solutions provider CMC's consolidated net profit rose by 23.6 percent quarter-on-quarter and 48 percent year-on-year to Rs 61.06 crore in the third quarter ended December 2012 due to broad based growth in India and international markets.

IT solutions provider CMC's consolidated net profit rose by 23.6 percent quarter-on-quarter and 48 percent year-on-year to Rs 61.06 crore in the third quarter ended December 2012 due to broad based growth in India and international markets.

Consolidated net sales increased 7.5 percent QoQ and 24% YoY to Rs 493 crore in the quarter. Earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 9 percent QoQ and 38 percent YoY to Rs 82.88 crore in October-December quarter.

26 new clients were added during the quarter across geographies, says subsidiary of Tata Consultancy Services.

The stock gained as much as 4.77 percent intraday to touch a two-year high of Rs 1,352. At 14:38 hours IST, the share was up 3.69 percent to Rs 1,338 on Bombay Stock Exchange.

Trading volumes jumped 392 percent to 57,514 equity shares as compared to its five day average of 11,698 shares.

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