Cambridge Technology Enterprises (CTE), an IT firm focussed on the convergence of big data and cloud, is going to double its workforce to 600 over the next one year from the current 300.

The company doubled its revenues in the six months ending June 30 to ₹26 crore from ₹13 crore in the comparable period last year. Net profit was ₹2.2 crore as against a loss of ₹52 lakh during the period.

“We are on track with our performance targets as part of the two-year business plan for 2015 and 2016. We will announce dividends along with the annual results for 2015-16,” Aashish Kalra, Chairman of Cambridge Technology Enterprises, has said.

Addressing the 16th annual general meeting (AGM) of the firm, he said the company targeted a monthly revenue of about ₹12 crore ($2 million) during the financial year 2016-17.

“We will need to focus on hiring more talent from India to support growth plans. We will double employee strength in the US. However, majority of the hiring will take place in Hyderabad as we are trying to consolidate and expand the Hyderabad centre. The employee strength by next year is expected to reach 600,” he said.

The firm has offices in Bengaluru, Hyderabad, Chennai and Mumbai.

comment COMMENT NOW