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23 September, 2021 12:07 IST
Zensar Technologies Q1 consolidated net profit rises 38% to Rs 1,010 mn
Source: IRIS | 27 Jul, 2021, 06.47PM
Rating: NAN / 5 stars.
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Zensar Technologies, a leading digital solutions and technology services company  on consolidated basis, reported a rise of 37.79% in its net profit attributed to the owners at Rs 1,010 million for first quarter ended June 30, 2021 as compared to Rs 733 million for the same quarter in the previous year. However, total income decreased by 5.35% at Rs 9,552 million for Q1FY22 as compared Rs 10,092 million for the corresponding quarter previous year.

Net Sales stood at Rs 9,368 million in June 2021, down 5.49% from Rs. 9,912 million in June 2020.

The company on standalone basis reported a rise of 16.39% in its net profit at Rs 760 million for the quarter under review as compared to Rs 653 million for the same quarter in the previous year. Total income of the company increased by 12% at Rs 3,901 million for Q1FY22 as compared Rs 3,483 million for the corresponding quarter previous year.

The company's headcount as of June 30, 2021 stood at 9,512. In Q1FY22, the company reported revenue of USD 127.2, a sequential QoQ growth of 5.8%.

EBITDA came at Rs. 1,910 million in June 2021, up 18.64% from Rs. 1,609.9 million in June 2020.

Zensar Tech EPS has increased to Rs. 4.48 in June 2021 from Rs. 3.25 in June 2020.

Ajay S. Bhutoria, Chief Executive Officer and Managing Director, Zensar Technologies, said, "Driven by strong business and operational focus, we saw our revenue increase sequentially QoQ by 5.8% in Q1FY22, and our PAT by 10.9%. This growth is underpinned by healthy performance in our key verticals of Hi-Tech/Manufacturing and Financial Services, and momentum in our US and South Africa regions. With our strategic growth areas clearly defined, we continue to strengthen our go-to-market along stated focus areas. In line with this, we completed the acquisition of M3bi, which augments and strengthens our advanced engineering and data analytics capabilities."

Adding further, he commented, "We continue to work closely with our clients during this pandemic to deepen our expertise and strengthen our offerings. We have stepped up our initiatives to enhance the skills of our associates and ready them for transformative projects with our clients and carry out new directions in thinking."

Navneet Khandelwal, Chief Financial Officer, Zensar Technologies, said, "Q1FY22 has seen growth in PAT at 43.4% YoY. Our continued focus on cash generation has resulted in our cash position further strengthening to USD 183.2 million in Q1FY22. Our EBITDA has grown by 25.5% YoY, with our earlier initiatives bearing results in this fiscal. We have concluded the acquisition of M3bi in July, and their revenues will be included in our performance from Q2 onwards."

Shares of the company gained Rs 12.30, or 3.16%, to settle  at  Rs 401.30.  The total volume of shares traded  was  368,057 at  the BSE (Tuesday).  

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