Hyderabad, June 22, 2020: Cambridge Technology Enterprises Limited (NSE: CTE; BSE: 532801), a leading global technology company focused on Artificial Intelligence as a Service (AIaaS) to transform organizations into AI-first leaders, today announced its audited financial results for the quarter and year ended March 31, 2020.
Cambridge Technology Enterprises Limited (CT) is a global business & technology services provider. The company provides organizations unparalleled access to cutting-edge technology by bringing together the best-in-industry using its years of expertise in building solutions for some of the world’s largest and most innovative enterprises; leveraging Big Data, Cloud & Machine Learning experience.
Over the last few years, CT was focused on building the right capacity and capability to deliver value to its customers. For instance, CT is differentiated from more than 10,000 AWS partners globally by achieving competencies in niche technologies.
In these uncertain times, CT brings certainty to delivery standards and helps customers speed scale amidst the cloud of challenges. CT is here to build the fluid and agile digital workspace for its customers to achieve continuity at all times.
Impact of the CoVID-19 pandemic on the business:
All offices of Cambridge Technology Enterprises Limited and its subsidiaries were closed pursuant to Government orders of respective regions. The company was able to seamlessly transition to work from home protocols and have been following it diligently.
Estimation of the future impact of CoVID-19 on its operations
There is no impact of COVID-19 on the Company’s business operations so far. The Company continues to evaluate the impact of COVID-19 as the situation evolves as it is very difficult to assess the future impact of COVID-19 on business operations. However, the company is confident about its ability to manage this crisis through financial stability, customers and committed employees.
| CAMBRIDGE TECHNOLOGY ENTERPRISES AUDITED CONSOLIDATED ANNUAL FINANCIAL RESULTS: FINANCIAL RESULTS: (INR Cr) | ||
| Year ended | ||
| 31-Mar-2020 | 31-Mar-2019 | |
| Revenue | 105.7 | 102.5 |
| EBITDA | 13.5 | 23.0 |
| PAT incl. OCI | 9.8 | 4.0 |
CT is a leading global technology company transforming organizations into “AI-first” leaders. CT gives organizations unparalleled access to cutting-edge technology by bringing together the best-in-industry using its years of expertise in building solutions for some of the world’s largest and most innovative enterprises; leveraging Big Data, Cloud & Machine Learning experience. CT’s expertise across multiple domains makes it the preferred choice for organizations seeking a partner to innovate and leapfrog the market. CT is appraised with ISO 20000-1:2011, ISO 27001:2013 certifications. For more information, visit www.www.ctepl.com or follow us on Twitter @cam_technology or LinkedIn at https://www.linkedin.com/company/cam_technology
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.
