CTEL records 64.27% growth in total income

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CTEL records 64.27% growth in total income

CTEL records 64.27% growth in total income & 58.09% growth in total revenue

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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 31^st March, 2007.

Highlights

Consolidated Results for the period ending 31^st 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 31^st March, 2006 which translates to over 58% growth year on year on annualized basis (The 15 month period financials ended 31^st 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 31^st 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 31^st 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).

Sourced From: Cambridge Technology Enterprises Ltd