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Cambridge Technology Enterprises (CTE) has registered a net profit of ₹ 4.4 crore in the fourth quarter ended March 31, 2017, as against ₹2.1 crore in the same quarter last year. Its revenue went up 28 per cent to ₹25.2 crore from ₹19.7 crore during the same period.
The firm made a profit of ₹16.9 crore in the financial year 2016-17 as against ₹9.1 crore in the previous year, a growth of 86 per cent. The revenue crossed the ₹100-crore mark in the year, a growth of 53 per cent over the previous year’s revenue of ₹65.8 crore.
Commenting on the results, Aashish Kalra, Chairman of Cambridge Technology Enterprises, said the firm was going through the process of stabilising and consolidating a new base to achieve the next phase of growth.
“We have drawn a Vision 2020. We expect annual revenues of $10 million each from our four growth drivers of the firm – Big Data, Bizserve, Data Science and Innovations. We are also looking at inorganic growth opportunities in the areas of Big Data and Data Science,” he said.
“We expect our efforts will yield results in the next three years to achieve a revenue of $50 million,” he said.
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