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Zensar Technologies Posts Flat Profit Of Rs 76.2 Crore In June Quarter

Zensar Technologies on Thursday posted a flat net profit of Rs 76.2 crore for the quarter ended June 30, 2016 compared to that of Rs 76.1 crore in the year-ago period.
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Zensar Technologies Posts Flat Profit Of Rs 76.2 Crore In June Quarter
New Delhi: Zensar Technologies on Thursday posted a flat net profit of Rs 76.2 crore for the quarter ended June 30, 2016 compared to that of Rs 76.1 crore in the year-ago period.

Its revenue grew by 8.2 per cent to Rs 762.4 crore in the reported quarter from Rs 704.6 crore in the year-ago period. "This has been a quarter of good growth. Manufacturing, which saw some softness in the previous quarter, saw a comeback with 6.3 per cent quarter-on-quarter growth (in constant currency). There was a significant traction in digital commerce and Infrastructure Management services in the first quarter," Zensar Technologies Chief Executive Officer and MD Sandeep Kishore told PTI.

The applications business has also achieved significant growth enabled by key digital levers, he added. In dollar terms, the company's net profit declined 4.9 per cent to $11.4 million, while revenue grew 2.6 per cent to $114 million in the said quarter compared to the year-ago period.

"Internally, at Zensar, several new initiatives are at play to make Zensar a business that runs fully on Digital. These initiatives will help deliver value to our clients and associates, through enhanced transparency, agility and efficiency in the way we run our business," he said.

Digital Services remained stable and contributed 27.3 per cent of the revenues in the first quarter of 2016-17. Talking about geographies, he said the US was a bit "soft", while business in Europe did well.

The US accounted for 74.9 per cent of the company's revenues in the said quarter, while Europe and Africa contributed 10.5 per cent and 8 per cent, respectively. On Brexit, Kishore said the company was "watching" the situation closely.

"Our exposure to Europe is small at about 10 per cent, so it's not as high as some of the larger players. However, we are closely watching the situation. We are talking to our customers," he added.

Its total headcount stood at 8,238 people at the end of June, 2016. While the company saw a gross hiring of 662, its headcount was lower compared to the March fiscal, when Zensar had 8,256 people.

Its attrition rate stood at 17.6 per cent in the quarter under review. The results were announced after the markets closed for the day. Shares of the company closed at Rs 1,010.60 apiece, up 0.39 per cent on BSE.



(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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