Cambridge Technology Enterprises Announces Increase of Over 100 Percent in Net Profit in FY 2015
Net Profit increased by 182 percent in Q4 FY15. A strong quarter marks a good outlook for CTE in FY16.
Topeka, Kansas, 29 May, 2015: Cambridge Technology Enterprises (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 and year ended March 31, 2015. Increase of 156 percent in Net Profit and 86 percent in revenue growth was recorded during the quarter.
CTE began its journey on 1 January, 2015 with focus on big data and cloud. It continued emphasis on investments and partnered with Oracle, Tableau, Rackspace, New Relic, ForgeRock and Amazon Web Services. Earnings growth during the period was driven by strong customer focus, new customer acquisitions, partnerships and expansion of services across verticals and geographies. CTE facilitated additional growth with robust demand from customers in industries such as textile, manufacturing, energy, and life sciences.
“We are pleased with the performance on Q4 FY15, our first quarter as an independent profit center” Aashish Kalra, Chairman of Cambridge Technology Enterprises said. “The strong numbers reflect the success of our customer-focused approach and dedication to the Midwest region of the U.S. Our focus on big data and cloud based technologies has assisted in increased market penetration and share.”
Mr. Kalra added, “It will take 12-18 months for us to realize the full potential of CTE’s growth. The Q4 result is encouraging and a step in the right direction and we hope the coming quarters will build on this momentum. With the existing initiatives and strategic focus, we expect improved future growth in revenue, shareholder value, and profitability”. The company is now leveraging the recent momentum to transition the company from a back office center to building its distinct brand image under the leadership of Aashish Kalra.
About Cambridge Technology Enterprises:
Cambridge Technology Enterprises (CTE) is an IT services leader focused on the convergence of big data and cloud. Recognized as a thought leader and innovator of enterprise solutions, CTE 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, CTE’s end-to-end services enable its customers to harness the data available to them. Its expertise across domains makes CTE a preferred choice for IT Strategy and Implementation to its customers. For more information, visit www.ctepl.com or follow @CTEofficial on twitter.