Cambridge Technology announces its results for Q1 FY17

 In 2016

74% YoY increase in revenue and 176% YoY increase in Net Profit in Q1 FY17
Hyderabad, India, 29 July, 2016: Cambridge Technology (NSE: CTE) (BSE: 532801), an IT services leader focused on the convergence of big data and cloud, today announced its financial results for the quarter ended June 30, 2016.

Key financial highlights:

  • Revenues have grown at an average of 105% in the last 5 quarters
  • Quarter ended 30 June 2016 vs. Quarter ended 30 June 2015
    • Revenue: 74 percent increase
    • EBITDA: 129 percent increase
    • Net Profit: 176 percent increase

Aashish Kalra, Chairman of Cambridge Technology said, “We detailed a two year vision for CTE in March 2015. We are through five quarters and are happy to have achieved results in line with our business plan. We are on track to achieve a revenue run rate of 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. We have made progress in recruiting which is helping us achieve our vision.”

He further added, “Cambridge BizServe, a subsidiary of Cambridge Technology, is making progress, accounting for nearly 5 percent of the consolidated revenues. Our focus on the convergence of cloud and big data fueled by artificial intelligence and machine learning is paying dividends.”

Consolidated Financial Highlights for quarter ending June 30, 2016:

CAMBRIDGE TECHNOLOGY FINANCIAL RESULTS
QUARTER ENDED 30 JUNE 2016 vs. QUARTER ENDED 30 JUNE 2015 – YoY (INR Mn)
Particulars

30-Jun-16

30-Jun-15

Change in % (YoY)

Revenue

243.7

139.9

74%

EBITDA

59.4

25.9

129%

Net Profit

33.0

11.9

176%

EPS(INR)

1.68

0.61

176%

 

Notes:Scheme of Reduction of Capital: In order to present a true and factual financial position of the Company, the Board of Directors of the Company approved the draft Scheme of Reduction of Capital on 18.11.2015 to utilize the balance lying in the Securities Premium Account amounting to INR 225.2 Mn of the Company to write off the entire Goodwill amounting to INR 97.7 Mn and the balance against the accumulated losses to the extent of INR 127.5 Mn of the Company. We are awaiting the approval from Hon’ble High Court.Visit http://www.ctepl.com/pdfs/investors/Q1 FY17 Investor_Presentation.pdf to see Q1 FY17 Investor Presentation.About Cambridge Technology :Cambridge Technology (CT) is an IT services leader focused on the convergence of big data and cloud. Recognized as a thought leader and innovator of enterprise solutions, CT focuses on cloud application development and management, data warehousing, business intelligence (BI) and analytics on the cloud. Through designing and implementing enterprise IT strategies that leverage the cloud’s capabilities, CT’s end-to-end services enable its customers to harness the data available to them. Its expertise across domains makes CT a preferred choice for IT Strategy and Implementation to its customers. For more information, visit www.c7e.co or follow @CTofficial on twitter. Forward-looking and Cautionary Statements:Certain statements in this press release may contain statements concerning our future growth prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this press release. The Company assumes no obligation to update any forward-looking information contained in this press release. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Company and the Company is not responsible for such third party statements and projections.Media contact: Nilofar Nigar | nnigar@ctepl.com | +91-40-4023-4400 Ext: 499
Investor relations: Hanumant Bhansali |hbhansali@ctepl.com | +91-40-4023-4400

CAMBRIDGE TECHNOLOGY PERFORMANCE IN LAST FIVE QUARTERS
(INR Mn)
INR Mn Revenues % change (YoY) EBITDA % change (YoY) PAT % change (YoY)
Q1FY16 139.9 109% 25.9 1489% 12.0
Q2FY16 154.4 110% 26.7 951% 28.0 1011%
Q3FY16 166.5 165% 23.3 1209% 29.5 659%
Q4FY16 197.2 69% 38.4 19% 21.1 113%
Q1FY17 243.7 74% 59.4 129% 33.0 176%
Average 105% 759% 490%
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