| Results
for quarter ending 30th September, 2007
Hyderabad, India - 31 October 2007:— Cambridge Technology
Enterprises Ltd. (CTE), a thought leader, innovator, and a leading provider
of comprehensive SOA – based solutions to mid sized enterprises
in the US markets, today announced its Q2 results for the fiscal 2007-2008.
Highlights
Consolidated Results for July to September (Q2-08)
quarter ending 30th September, 2007:
- Total Revenue on consolidated basis for CTE was Rs1329.22 lakhs
compared to Rs 595.02 lakhs of revenue for the Quarter ended 30th
September 2006, which translates to 123% growth over previous year
Q2. With respect to the revenue of Rs.1008.44 lakhs for Q1-FY2007-08
(Apr-Jun 2007 quarter) the sequential growth in revenue on QoQ was
32%.
- Profit Before Tax was Rs 248.40 lakhs, compared to Rs. 147.43 lakhs
of Profit Before Tax for the Quarter ended 30th September 2006 which
translates to 69% growth in profit. With respect to the PBT of Rs.201.12
lakhs for Q1FY2007-08 (Apr-Jun 2007 quarter) the sequential growth
in Profit QoQ was over 23.63%.
- EPS for the period is Rs.1.34 on a paid up capital of Rs 1582 lakhs
compared to Rs 1.44 for Quarter ended 30th September 2006 on a paid
up capital of Rs 950 lakhs.
- In this quarter, the company added 7 new customers to its customer
base.
Cambridge Technology Enterprises Ltd (CTE) –
Standalone.
Cambridge Technology Enterprises Ltd (CTE) 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 quarter ended September, 30, 2007
was 481.36 Lakhs compared to Rs 415.03 Lakhs for the previous year quarter
ended September 30, 2006. The PBT for the quarter ended September 30,
2007 is Rs 106.73 compared to Rs 129.76 Lakhs for the previous year September
30, 2006. Sequentially, the previous quarter ended June 30, 2007 revenue
was Rs. 450.06 lakhs and PBT of Rs 113.44 Lakhs.
Mr. Bhaskar Panigrahi, CEO, Cambridge Technology Enterprises
Ltd (CTE) said, “The key development in this quarter is to have
completed the formalities to acquire Reilly Associates Inc as announced.
This has enhanced CTE’s service coverage capability to offer Oracle
ERP implementation, support and gives access to over 60 mid-sized customers
who would be targeted for migration onto SOA platform. The synergy that
has evolved from the combined offerings of CTE & Reilly has helped
the company convert a one-time project order into a multi-year multi-million
dollar recurring revenue order. We have had another good growth quarter
and expecting to continue the growth trajectory in future as well.”
Ramesh Reddy, Chief Financial Officer, commenting on
the results said “The trend that started from the beginning of this
fiscal continued this quarter. We are also focusing on further improvement
in enhancing the revenues by leveraging the added service capabilities,
sales & marketing efforts and existing customer base and also integrating
global delivery and support systems to help sustain margins in the rapid
growth phase.”
About Cambridge Technology Enterprises Ltd.
(CTE)
Cambridge Technology Enterprises Ltd. (CTE) is a thought
leader, innovator, and a leading provider of comprehensive SOA-based solutions
and Enterprise Transformation applications. A SEI CMMI Level 5 company,
CTE, with its Center of Innovation located at Cambridge, Massachusetts,
US, provides revolutionary solutions on budget and on time. It operates
under various verticals like Banking and Insurance, Life Sciences, Health
Care, High Tech, Energy & Utility, Process Manufacturing, Wireless
and Mobile to name a few.
CTE entered the capital market in the month of December
2006, got listed in the month of February 2007 and raised funds of the
order of Rs.2400 lakhs through a Fixed Price issue. CTE’s shares
are listed in India on the Stock Exchange – Mumbai, and the National
Stock Exchange.
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