Cambridge Technology FY16 net profit jumps 190%

India Infoline News Service | Mumbai | June 01, 2016 17:50 IST

Aashish Kalra, Chairman of Cambridge Technology Enterprises said, “We detailed a two year vision for CTE in March 2015. We have reached the half way mark. Our financial performance in the first year ending March 2016 is in line with our business plan."

Cambridge Technology Enterprises, an IT services leader focused on the convergence of big data and cloud, today announced its audited financial results for the year ended March 31, 2016.

Audited Consolidated Financial Highlights for the financial year ending March 31, 2016:
 
CAMBRIDGE TECHNOLOGY ENTERPRISES FINANCIAL RESULTS:
12 MONTHS ENDING 31 MAR 2015 VS. 12 MONTHS ENDING 31 MAR 2016 - YOY (In INR Mn)
Particulars 2014-15 2015-16 % change YoY
Revenue 322.5 658.2 104%
EBITDA 57.1 114.3 100%
Net Profit 31.2 90.5 190%
EPS (INR) 1.5 4.6 190%
Under Kalra’s leadership, CTE has progressed towards its goal of achieving USD 2M a month by March 2017. CTE is focused on achieving minimum scale and executing its two year business plan, and is a recognized leader in transformational business with a focus on the convergence of cloud and big data powered by Artificial Intelligence and Machine Learning.
Aashish Kalra, Chairman of Cambridge Technology Enterprises said, “We detailed a two year vision for CTE in March 2015. We have reached the half way mark. Our financial performance in the first year ending March 2016 is in line with our business plan. We are on track to achieve a revenue run rate USD 2M a month by March 2017. Reiterating the milestones, we have leveraged our partnerships, expanded our presence in U.S. and India, while acquiring referenceable clients in our verticals. While recruiting remains a challenge, we have made good progress here.”
 He further added, “We are benefitting from Cambridge Innovations (CI), one of our fast moving verticals – where we are bringing CTE’s cutting edge technologies and best practices to help transformational early-stage companies seeking rapid growth. CI is a catalyst for exposing our talent to emerging technologies and is helping to build future CTE clients. We work collaboratively with our clients and share in their success.” Mr. Kalra concluded, “The outlook for the next year looks promising as we position ourselves firmly to drive profitable growth and deliver value to our clients and shareholders; we have made progress, but are still at the half way mark on our business plan. We are happy to have achieved results in line with our business plan.”
 

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