Cambridge reports revenues of Rs 1469.8cr, 24.5% gwth

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Cambridge reports revenues of Rs 1469.8cr, 24.5% gwth

Cambridge Solutions reports consolidated revenues of Rs 1,469.8 crores for the year ended March 2007, 24.5% growth in revenue vs. the previous year

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Cambridge Solutions Limited ("Cambridge"), one of the leading knowledge-based IT and BPO firms in the world, today reported Rs 1,469.8  Crores in consolidated revenues for the year ended March 31, 2007, a growth of 24.5% YoY.  For the Financial year 2007, Consolidated  Earnings before Interest,  Depreciation, Amortization and Tax is Rs 142.6 Crores, up 43.9%, compared to Rs 99.1 Crores last year. EBIDTA margins improved 130 bps over the previous year.

The Profit after Tax before reorganization costs stood at Rs 65.7 Crores compared to Rs.1.9 Crores last year.

Earnings Per share for the consolidated entity is Rs 6.25 per equity share of face value Rs 10 on fully diluted basis.8

Commenting on the results of the financial year, Christopher Sinclair, CEO and Chairman said, "We are extremely encouraged about the pace of our development. The Company has grown significantly in revenues and profits since inception five years ago. Furthermore, the sale of Albion (Government business  in  Americas)  this  year  will  allow  us  to  concentrate  on  continuing  to  build  our  core businesses. The business is on a much stronger platform now, and we feel optimistic about the growth trajectory  going  forward.    We  will  continue  to  focus  on  productivity  improvements  and  cost optimization initiatives to further enhance profitability and shareholder value."

On a geographic basis, Americas, being the  major  territory, contributed 77.5% of the consolidated revenues followed by Australia at 13.1% and the balance 9.4 % from Europe and Asia.

On a line of business basis, the BPO segment contributed 68.2% to consolidated revenues and grew 17.2% YoY to Rs 1,002.1 Crores. The India BPO operations grew 160% YOY while the International BPO operations grew at 12% YOY.  IT Services contributed 31.8% of the consolidated revenues at Rs 467.7 Crores, growing 43.8% YoY.  The Company added two "million dollar" clients during the quarter, taking the total number of "million dollar" clients to 55, at year end.

Globally, the total headcount as on March 31, 2007 stands at about 4400, up from 3600 last year.

Sourced From: Corporate Voice|Weber Shandwick