Cambridge Solutions net down 94%

IT services and BPO firm Cambridge Solutions has recorded a 94% decline in net profit at Rs 99 lakh during the second quarter of 2007-08 when compared with Rs 17.17 crore in Q2FY07.

The company was severely impacted by the discontinuance of Albion (the US IT government division) and a one-time exceptional income owing to the settlement of a liability during the quarter ended September 30, 2006, the company said in a statement to the NSE.

The company registered a top line of Rs 310.4 crore in Q2FY08 - a dip of 14 % when compared with the corresponding quarter last fiscal.

While the Americas contributed 72.2% of consolidated revenue followed by Australia at 15.2% and Europe and Asia at 12.6%.