Pune: IT and BPO services provider Zensar Technologies saw its second quarter net profit drop by 15 per cent over the previous quarter of the fiscal due to stronger rupee. PAT stood at Rs 27.50 crore (Rs 32.48 crore in Q1).
However, the company's revenue at Rs 263.33 crore witnessed a 9 per cent growth sequentially while EPS stood at Rs 6.37. Against the same quarter of last year, revenue was up by 5 per cent while PAT declined by 26 per cent.
Dr Ganesh Natarajan, Vice-Chairman and MD, Zensar, said that the dollar depreciated by 4 per cent against the rupee impacting the bottom line to the extent of Rs 7.26 crore, and salary hikes added Rs 3 crore to the expenses while better margins curtailed the sequential drop in net income. In the second quarter Zensar added 24 customers to its portfolio and has seen business renewals and new business in all its key geographies of US, UK, Singapore, South Africa and Japan.
The company has also appointed a country sales head for Saudi Arabia to strengthen its Middle-East operations and expects to open a near-shore centre in Latin America. “Zensar's has excellent order booking and volume growth in all markets. Our centre in Shanghai has commenced and we intend to add another one in Jordan or Egypt to support our Middle-East expansion in 2011,” Dr Natarajan said.
