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Software services company Zensar reports 25% decline in net profit

Monday, October 17, 2016 12:14
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(Before It's News)

The Pune-headquartered mid-sized firm had posted a net profit of Rs 91.3 crore in the year-ago period.

Consolidated revenue rose by 2.7% to Rs 776.7 crore during the period from Rs 756.4 crore in the same quarter of 2015-16.

For the sequential quarter, net profit declined 9.8% from Rs 76.2 crore, while revenue was up 1.9% from Rs 762.4 crore in the April-June 2016 quarter.

“The business and operating parameters in Q2 FY17 has been good… We expanded our gross margin and EBITA both in a quarter where we also had wage increase, overall showing good operating results… PAT was impacted because of the currency issue both on Q-o-Q and year-on-year basis,” Zensar Technologies CEO and MD Sandeep Kishore said.

He said that the reported quarter was a good one for new order booking and the company continues 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,” he added.

Digital services continued its growth momentum and contributed 27.8% to the said quarter revenue.

The company had 8,316 employees at the end of September, 2016, while the attrition rate stood at 15.6%.


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