CTEL Records 64
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CTEL Records 64.27% Growth in Total Income and 58.09% Growth in Total Revenue
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CTEL Records 64.27% Growth in Total Income and 58.09% Growth in Total Revenue

Hyderabad, Andhra Pradesh, India

Cambridge Technology Enterprises Ltd (CTEL), a thought leader, innovator, and a leading provider of comprehensive SOA - based solutions to mid sized enterprises in the US markets, today announced its results for the fiscal year 2006-2007, 12 months period ending 31st March, 2007.

Highlights

Consolidated Results for the period ending 31st March, 2007.

-- Total Revenue on consolidated basis for CTEL was Rs.2360 lakhs compared to Rs.1866 lakhs of revenue for the 15 month period ended 31st March, 2006 which translates to over 58% growth year on year on annualized basis (The 15 month period financials ended 31st March, 2006 was un-consolidated, since the company did not have any subsidiary as on that date)

-- Profit after Tax was Rs.504.65 lakhs, compared to Rs. 384 lakhs of profit after tax for the 15 month period ended 31st March, 2006 which translates to over 64% growth in year on year on annualized basis.

-- Net Sales / Income from operations was 20.74% compared to 19.47% for the 15 months period ended 31st March 2006 which translates to over 6.52% growth on percentage margin year on year.

-- Earnings per share for the period is Rs.4.86 , on basis of post issue paid up capital of Rs.1582.44 lakhs;

-- In the fiscal year, the company offered its SOA related transformation services to 4 new clients.

The consolidated revenues for the Q4 (January-March 2007) were Rs.596 lakhs and the corresponding profit was Rs.96 lakhs compared to revenue of Rs.594 lakhs and profit of Rs.139 lakhs in the previous quarter and Rs.1764 lakhs for the 9 months ended 31.12.2006. One time expenses at the year end due to adjustments on the forex (US$) outflow for acquisition of its wholly owned subsidiary and enhanced expenditure to develop sales and marketing to meet 2008 targets to the extent of Rs.29 lakhs and Rs. 14 lakhs contributed to the reduction in profit level compared to previous quarter.

Cambridge Technology Enterprises Limited (CTEL) - Standalone.

CTEL 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 year ended March, 31, 2007 was Rs.1785.27 lakhs. Net income was Rs. 525.86 lakhs.

Others

4 new clients were added in the quarter and total 10 in the financial year 2006-2007. A gross addition of 28 employees for the quarter and 54 for the year (2006-2007).

About CTEL

Cambridge Technology Enterprises Ltd (CTEL) is a thought leader, innovator, and a leading provider of comprehensive SOA-based solutions and Enterprise Transformation applications. A SEI CMMI Level 5 company, CTEL, with its Center of Innovation located on the MIT Campus in Cambridge, Massachusetts, US, provides revolutionary solutions on budget and on time. It operates under various verticals like Banking and insurance, Life Sciences and Health care, High Tech, energy & utility to name a few.

CTEL entered the capital market in the month of December'2006, got listed in the month of Feb'2007 and raised funds of the order of Rs.2400 lakhs through a Fixed Price issue. CTEL's shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange. For more information, please visit our website at www.ctepl.com

To view the audited financial results click the link below:

Audited Financial Results

ntarakad@ctepl.com ksaritha@ctepl.com

Source: Cambridge Technology Enterprises Limited (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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