Business Daily from THE HINDU group of publications
Wednesday, Aug 01, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Aug 01, 2007 ePaper |
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Info-Tech
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Financial Performance Corporate Results - Software Cambridge slips into red
Our Bureau Bangalore July 31 Cambridge Solutions Ltd slipped into the red on the back of foreign exchange losses and restructuring expenses for the quarter-ended June, 2007. Cambridge reported a consolidated loss of Rs 4.94 crore on revenues of Rs 312.38 crore as compared with a net profit of Rs 16.10 crore on revenues of Rs 374.04 crore in the corresponding quarter last year. “The one-time expenses included redundancy costs that we have taken in this quarter for the rationalisation of our US workforce,” Cambridge said in a press release. Normalising for the impact of discontinuance of business from Albion (US IT Government division) and the one-time recognition of bonuses in Australia claims division during the quarter , the operating profits in rupee terms increased by 9 per cent year-on-year. On the same measure, in dollar terms, revenue increased by 10.2 per cent. The BPO business contributed 73.7 per cent to consolidated revenues and grew 6.6 per cent YoY in dollar terms normalised. The India BPO operations grew 48.4 per cent YoY in dollar terms, while the international BPO operations grew at 4.9 per cent YoY in dollar terms normalised. The IT services contributed 26.3 per cent of the consolidated revenues growing 22 per cent YoY in dollar terms net of discontinued operations. Americas contributed to 74.5 per cent of consolidated revenues, followed by Australia at 14.3 per cent and the balance coming from the rest of the world.
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