CTE focus on two year business plan yields 109% YoY increase of revenue in 6 months ending Sep 2015 vs. Sep 2014
IT leader continues to focus on customer acquisition and setting competency centers for training employees.
- (1888PressRelease) November 04, 2015 - Hyderabad, India : 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 ended September 30, 2015.
Key financial highlights:
• Six months ending Sep 2015 vs. Six months ending Sep 2014
o Revenue: 109 percent increase
o EBITDA: 726 percent increase
o Net profits: 4189 percent increase
• Quarter ending Sep 2015 vs. Quarter ending Sep 2014
o Revenue: 110 percent increase
o EBITDA: 493 percent increase
o Net profits: 1013 percent increase
CTE emerged as a provider of unique solutions in the convergence of cloud and big data space under the leadership of Aashish Kalra, who took over as the Chairman of the company in January 2015. A two-year business plan was developed for FY16 and FY17 and as part of the plan, CTE focused on three areas. As a first step, it built partnerships with Oracle, Apica Systems, Amazon Web Services, ForgeRock, Rackspace, Tableau, and New Relic. The next step was acquiring referenceable clients in the six verticals chosen initially; and we are on track with it. To reach to scale is the final step and CTE is working towards it.
Aashish Kalra, Chairman of Cambridge Technology Enterprises said, "We are subscale and to get to minimum scale we put together the two-year business plan. We target to achieve monthly revenue run rate of USD 1 Mn by March 2016 and USD 2 Mn by March 2017. We are through with the first two quarters and are on track with it, however we still have a long way to go. We seem to be heading in the right direction as we achieve more than 100 percent increase in revenue and 4000 percent increase in profits in six months ending Sep 2015 vs. Sep 2014. Talent is the biggest challenge to our growth. Majority of our focus now is geared towards hiring the right talent and training them. We are investing in setting competency centers and training our employees"
Consolidated Financial Highlights for the six months ending September 30, 2015:
CAMBRIDGE TECHNOLOGY ENTERPRISES FINANCIAL RESULTS:
SIX MONTHS ENDING SEP 2015 vs. SIX MONTHS ENDING SEP 2014 - YoY
(INR in Lakhs)
Particulars 30-Sep-15 30-Sep-14 Change in % (YoY)
Revenue 2,944.37 1,405.74 109%
EBITDA 598.50 72.48 726%
Net Profit 399.66 9.32 4189%
EPS 2.04 0.05 4189%
Consolidated Financial Highlights for the quarter ending September 30, 2015:
CAMBRIDGE TECHNOLOGY ENTERPRISES FINANCIAL RESULTS:
QUARTER ENDING 30TH SEP 2015 vs. QUARTER ENDING 30TH SEP 2014 - YoY
(INR in Lakhs)
Particulars 30-Sep-15 30-Sep-14 Change in %
(YoY)
Revenue 1,544.59 737.11 110%
EBITDA 305.82 51.60 493%
Net Profit 279.92 25.16 1013%
EPS 1.43 0.13 1013%
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 dot
Media contact: Nilofar Nigar | nnigar ( @ ) ctepl dot com |+91 - 40 - 40234400
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