Cambridge Solutions hardens on turnaround results

Cambridge Solutions jumped 16.18% to Rs 56 at 9:56 IST on BSE on reporting net profit of Rs 17.18 crore in Q4 March 2008 as compared to net loss of Rs 1.65 crore in Q3 December 2007.

The company announced the results after trading hours yesterday, 17 June 2008.

On BSE, 6,840 shares were traded in the counter. The scrip had an average daily volume of 42,724 shares in the past one quarter.

The stock hit a high of Rs 56.90 and a low of Rs 49.50 so far during the day. The stock had a 52-week high of Rs 138.80 on 19 June 2007 and a 52-week low of Rs 34.60 on 25 March 2008.

The small-cap company had underperformed the market over the past one month till 17 June 2008, declining 16.32% compared to the Sensex's decline of 9.97%. It had outperformed the market in the past one quarter, gaining 25.19% compared to Sensex's return of 4.68%.

The company has an equity capital of Rs 111.34 crore. Face value per share is Rs 10.

The current price of Rs 56 discounts its Q4 March 2008 annualised EPS of Rs 6.17, by a PE multiple of 9.08.

Cambridge Solutions' net sales rose 6.33% to Rs 48.03 crore in Q4 March 2008 over Q3 December 2007.

Cambridge Solutions reported a net profit of Rs 4.32 crore in the year ended March 2008 as compared to net loss of Rs 11.13 crore in the year ended March 2007. Net sales rose 4.3% to Rs 178.23 crore in the year ended March 2008 over the year ended March 2007.

In April 2008, Cambridge Solutions' wholly owned subsidiary Cambridge Solutions Pte announced expansion of its Lenovo ThinkPad quality development and assurance business.

Cambridge Solutions provides information technology (IT) and information technology enabled services (ITES). It operates through two segments, business process outsourcing (BPO) and IT.