Zensar Technologies Q2 net profit declines 25%

India Infoline News Service | Mumbai | October 18, 2016 09:34 IST

The company reported a 25% decline in consolidated net profit at Rs 69 crore for the July-September quarter.

Zensar Technologies
Zensar Technologies, a leading digital solutions and technology services company that specialises in partnering with global organisations across industries on their Digital Transformation journey, announced its audited consolidated financial results for the quarter  ended September 30, 2016 of FY 2016-17.

The company reported a 25% decline in consolidated net profit at Rs 69 crore for the July-September quarter. The company had posted a net profit of Rs 91.3 crore in the year-ago period.

Financial Highlights:
The Company reported quarter on quarter revenue growth of 2.2% in constant currency at close of Q2 FY17 and 1.8% from 114 USD M to 116 USO M in USO terms. The EBITDA for the quarter grew by 4.1% from 15.9 USD M to  16.6 USD M. Digital Services continued its growth momentum and contributed 27.8% of Q2 FY16-17 revenue.

Sandeep Kishore, Chief Executive Officer and Managing Director, Zensar Technologies said, "This Quarter has been a good one for new order booking, and we continue to have a robust  pipeline across all service lines. We  have signed large deals with marquee clients in the Digital and IMS Cloud  businesses. Innovative new solutions that we have launched in the areas of automation and robotics aligned with our clients'  business needs, have  begun  to show traction".

"At Zensar the digital initiatives launched earlier this year have begun to show a 'Return on Digitalâ„¢' helping us pass on the benefits to our clients", Sandeep added.

S Balasubramaniam, Chief Financial Officer, Zensar Technologies said, "Zensar's focus on its top 20 clients both in terms of penetration through multi service and digital have begun to show results in terms of  revenue  and  profitability. This along with the Companies initiatives around operational and financial efficiencies have led  to our EBITDA increasing to 14.3%".

Market Leadership: Digital, eCommerce, IMS and Oracle are key levers of growth for Zensar, and significant developments have been made in capabilities, partnerships, client acquisition and new services being taken to market.

***Note: This is a NSE Chart

 

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