Zensar posts strong set of second quarter numbers
Manjiri Meshram / 21 Oct 2015
Recently Zensar Technologies announced its Q2FY16 results, the total income of the company grew by 7.46 per cent to Rs 758 crore in Q2 FY16 compared to Rs 706 crore in Q1FY16. The total expenses rose by 7 per cent to Rs 650 crore as against Rs 607 crore on quarterly basis. EBITDA increased by 9.12 per cent to Rs 119 crore, EBITDA margin expanded by 24 basis points to 15.73 per cent.
Zensar Technologies is a globally focused software and services company. Zensar provides end-to-end services from IT development to Business Process Outsourcing, from consulting to implementation. The company provides services in the area of Retail and Distribution, Banking, Financial Services and Insurance, Healthcare and Life Sciences, Manufacturing, Energy and Utilites.
Recently Zensar Technologies announced its Q2FY16 results, the total income of the company grew by 7.46 per cent to Rs 758 crore in Q2 FY16 compared to Rs 706 crore in Q1FY16. The total expenses rose by 7 per cent to Rs 650 crore as against Rs 607 crore on quarterly basis. EBITDA increased by 9.12 per cent to Rs 119 crore, EBITDA margin expanded by 24 basis points to 15.73 per cent.
During the quarter other income of Zensar increased by 54.17 per cent to Rs 21 crore. Tax expenses grew by 5.26 per cent to Rs 34 crore on quarterly basis. The net profit of Zensar jumped by 20 per cent to 91.3 crore in Q2FY16 comapred to Rs 76 crore in Q1FY16.
Zensar reported forex losses of Rs 21 crore in Q2 FY16 as compared to a gain of Rs 17.58 crore in the last quarter. In this quarter Zensar reported 25 wins across its focus verticals, some of which are large annuity contracts in core areas of enterprise solutions, and in the hi-tech manufacturing space. The rapid rupee appreciation in the Quarter impacted the spot realizations and currency translations at the Quarter end.
Commenting on the results, Ganesh Natarajan CEO and Vice Chairman, Zensar Technologies said, “The second quarter has produced steady growth in all our focus verticals. Zensar has grown its revenues 34% in the first half of the financial year, and we are confident that we will report full year growth that will be substantially above Industry average. Our pipeline of new business in all verticals and in the core enterprise software as well our new focus area of infrastructure management is excellent.”
FII holdings of Zensar Technologies increased by 85 basis points to 13.93 per cent, DII holdings reduced by 66 basis points to 0.59 per cent as on 30th September 2015. Today, Zensar Technologies is trading at Rs 973, 2 per cent higher.
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