Cambridge Technology Enterprises announces 2015 calendar year and nine months FY16 results

120% YoY 2015 calendar year (Jan1 - Dec 31 2015) and 127% YoY increase in revenue in 9MFY16. End Quote

(1888PressRelease) February 05, 2016 - Cambridge Technology Enterprises (www.c7e.co) (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 December 31, 2015.

Aashish Kalra took over as the Chairman of CTE in January 2015. Under his leadership, CTE has emerged as one of the leading names in the convergence of cloud and big data space with specialization in Artificial Intelligence (AI) and Machine Learning. The two-year business plan developed for FY16 and FY17 is under execution with a target of achieving $2 Mn in revenues per month by March 2017.

On Dec 31, 2015, CTE completed one year since Aashish Kalra took over as the Chairman and the performance has been as follows:
Consolidated Financial Highlights for the Twelve Months Ending December 31, 2015:

CAMBRIDGE TECHNOLOGY ENTERPRISES FINANCIAL RESULTS:
TWELVE MONTHS ENDING 31 DEC 2015 vs. TWELVE MONTHS ENDING 31 DEC 2014 - YoY
(INR in Cr)
Particulars 31-Dec-15 31-Dec-14 Change in % (YoY)
Revenue 57.80 26.32 120%
EBITDA 12.60 1.13 1006%
Net Profit 7.93 0.11 6941%
EPS (INR) 4.04 0.05 6941%

Aashish Kalra, Chairman of Cambridge Technology Enterprises said, "We started our journey on January 1, 2015 with a target to achieve $2 Mn a month in revenue and invest in 12 companies via CI by March '17. We have made progress towards our goals, however, we still have a long way to go. We are investing in recruiting and training the future leaders of CTE and this will continue to impact our profitability till we achieve minimum scale. We believe Artificial Intelligence and Machine Learning will define new and redefine existing industries, thereby transforming data into a valuable knowledge asset and a catalyst for disruption."

He further added, "Our focus is to achieve our goals through internal accruals and deliver sustainable shareholder value."

Click to access: Q3FY16 Investor Presentation / Q3FY16 Press Release

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