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Cambridge Technology Enterprises (CTE) has registered a net profit of Rs 4.4 crore in the fourth quarter ended March 31, 2017, as against Rs 2.1 crore in the same quarter last year. Its revenue went up by 28 per cent to Rs 25.2 crore from Rs 19.7 crore during the same period.
The firm made a profit of Rs 16.9 crore in the financial year 2016-17 as against Rs 9.1 crore in the previous year, showing a growth of 86 per cent. Revenue crossed the Rs 100-crore mark in the year, showing a growth of 53 per cent over the previous year’s revenue of Rs 65.8 crore.
Commenting on the results on Wednesday, 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 (Rs 65 crore approximately) each from our four growth drivers of the firm – Bigdata, 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 (approximately Rs 325 crore),” he said.
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