Cambridge Solutions Q3CY09 net loss at Rs 24.7 cr

Net sales went down at Rs 285 crore versus Rs 302.81 crore while operating profit was up at Rs 20.7 crore versus Rs 9.89 crore.

Exceptional item stood at Rs 27.6 crore in Q3CY09 while exceptional loss was seen at Rs 248.57 crore in Q2CY09.

Both segments saw a decline on QoQ basis. IT revenues fell to Rs 60.79 crore versus Rs 67.47 crore and BPO revenues declined to Rs 225.27 crore versus Rs 239.03 crore.

Exceptional Loss in Q3CY09 on account off:
-Provision of Rs 61.83 crore towards impairment of lease contracts and assets
-Restructuring costs in the US amounting to Rs 17 crore and Litigation costs
-Provision of Rs 19.22 crore on loss making customer contracts in US Claims business

Exceptional loss in Q2CY09 on account off:
-Provision of Rs 61.83 crore towards impairment of lease contracts and assets
-Alert: US operations saw significant decline resulting in office space becoming vacant
-Restructuring costs in the US amounting to Rs 31.68 crore and Rs 15.04 crore towards litigation expenses
-Provision of Rs 19.22 crore on loss making customer contracts in US Claims business