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CTE announces its audited annual financial results for FY16

Cambridge Technology Enterprises, an IT services leader focused on the convergence of big data and cloud, announced its audited financial results for the year ended March 31, 2016.

Under Kalra’s leadership, CTE has progressed towards its goal of achieving USD 2M a month by March 2017. CTE is focused on achieving minimum scale and executing its two year business plan, and is a recognized leader in transformational business with a focus on the convergence of cloud and big data powered by Artificial Intelligence and Machine Learning.

Aashish Kalra, Chairman of Cambridge Technology Enterprises said, “We detailed a two year vision for CTE in March 2015. We have reached the half way mark. Our financial performance in the first year ending March 2016 is in line with our business plan. We are on track to achieve a revenue run rate USD 2M a month by March 2017. Reiterating the milestones, we have leveraged our partnerships, expanded our presence in U.S. and India, while acquiring referenceable clients in our verticals. While recruiting remains a challenge, we have made good progress here.”

He further added, “We are benefitting from Cambridge Innovations (CI), one of our fast moving verticals – where we are bringing CTE’s cutting edge technologies and best practices to help transformational early-stage companies seeking rapid growth. CI is a catalyst for exposing our talent to emerging technologies and is helping to build future CTE clients. We work collaboratively with our clients and share in their success.” Kalra concluded, “The outlook for the next year looks promising as we position ourselves firmly to drive profitable growth and deliver value to our clients and shareholders; we have made progress, but are still at the half way mark on our business plan. We are happy to have achieved results in line with our business plan.”

 

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