| Hyderabad, India 26th
May 2007 Cambridge Technology Enterprises Ltd (CTEL), a thought
leader, innovator, and a leading provider of comprehensive SOA –
based solutions to mid sized enterprises in the US markets, today announced
its results for the fiscal year 2006-2007, 12 months period ending 31st
March, 2007.
Highlights
Consolidated Results for the period ending 31st March, 2007.
- Total Revenue on consolidated basis for CTEL was Rs.2360 lakhs compared
to Rs.1866 lakhs of revenue for the 15 month period ended 31st March,
2006 which translates to over 58% growth year on year on annualized
basis (The 15 month period financials ended 31st March, 2006 was un-consolidated,
since the company did not have any subsidiary as on that date)
- Profit after Tax was Rs.504.65 lakhs, compared to Rs. 384 lakhs of
profit after tax for the 15 month period ended 31st March, 2006 which
translates to over 64% growth in year on year on annualized basis.
- Net Sales / Income from operations was 20.74% compared to 19.47% for
the 15 months period ended 31st March 2006 which translates to over
6.52% growth on percentage margin year on year.
- Earnings per share for the period is Rs.4.86 , on basis of post issue
paid up capital of Rs.1582.44 lakhs;
- In the fiscal year, the company offered its SOA related transformation
services to 4 new clients.
The consolidated revenues for the Q4 (January-March 2007) were Rs.596
lakhs and the corresponding profit was Rs.96 lakhs compared to revenue
of Rs.594 lakhs and profit of Rs.139 lakhs in the previous quarter and
Rs.1764 lakhs for the 9 months ended 31.12.2006. One time expenses at
the year end due to adjustments on the forex (US$) outflow for acquisition
of its wholly owned subsidiary and enhanced expenditure to develop sales
and marketing to meet 2008 targets to the extent of Rs.29 lakhs and Rs.
14 lakhs contributed to the reduction in profit level compared to previous
quarter.
Cambridge Technology Enterprises Limited (CTEL) – Standalone.
CTEL derives its revenues primarily from its billings to its WOS (Wholly
owned subsidiary) in US CTE Inc which has all the customer contracts,
the billing is done based on the Service agreement between the two entities
based on the transfer pricing rules. Total Revenue for the year ended
March, 31, 2007 was Rs.1785.27 lakhs. Net income was Rs. 525.86 lakhs.
Others
4 new clients were added in the quarter and total 10 in the financial
year 2006-2007. A gross addition of 28 employees for the quarter and 54
for the year (2006-2007).
About CTEL
Cambridge Technology Enterprises Ltd (CTEL) is a thought leader, innovator,
and a leading provider of comprehensive SOA-based solutions and Enterprise
Transformation applications. A SEI CMMI Level 5 company, CTEL, with its
Center of Innovation located in Cambridge, Massachusetts, US, provides
revolutionary solutions on budget and on time. It operates under various
verticals like Banking and insurance, Life Sciences and Health care, High
Tech, energy & utility to name a few.
CTEL entered the capital market in the month of December’2006,
got listed in the month of Feb’2007 and raised funds of the order
of Rs.2400 lakhs through a Fixed Price issue. CTEL’s shares are
listed in India on the Stock Exchange – Mumbai, and the National
Stock Exchange.
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