Zensar posts excellent results for Q1
Sequential Revenue up 7% and Profits 29%
Pune, India 23/07/2009,
Zensar Technologies, the leading global IT and BPO services provider has reported excellent profit growth for the quarter ended 30th June, 2009
Financial HighlightsConsolidated Results for the quarter ended 30th June, 2009
- Revenue was Rs 229.23 Cr, a growth of 9% over the same quarter last year and 7 % sequentially
- Net Income was Rs 29.74 Cr, a growth of 20% q-o-q and 29 % sequentially
- Earnings per share stands at Rs 12.41 this quarter
In the first quarter Zensar has added a total of 16 new customers to its portfolio; six of the new accounts have the potential of becoming multi-million dollar accounts this year.
Dr. Ganesh Natarajan, Vice Chairman and MD, Zensar said, “It is a year well begun where all our businesses and territories have delivered an excellent performance. The highlight of the quarter has been a 17.8 million dollar win in the insurance space in US and a number of new marquee accounts in Europe and Asia have given us the confidence that we will overcome recessionary trends in key markets and continue to do well.”
New services introduced in the last year by Zensar continue to bring in new business, especially in the areas of Package Implementation, Testing, Infrastructure Management and KPO. Apart from the significant success in Insurance, other key wins include an international financial services company in the UK and a total solutions company providing packaged application to the Financial Services and Government Sector in South Africa. Package Implementation wins include one of the leading retailers in the Middle East; a technology leader providing reliable infrastructure; a manufacturer of safety and restraint systems for automobiles; and a communications infrastructure major in the US.
The Company has also seen a surge in its Enterprise Applications business and is now Oracle Certified Advantage Partner for Middle East- the highest level of partnership status in the region. Zensar has also won the Emerging Business Applications Award for 2009 at the Oracle UK Partner
Awards (London) in April 2009. In the US, the Company has built success stories through Greenfield projects using Oracle Business Accelerators which have been leveraged for faster implementation of enterprise applications and optimization of costs.
With the global economic order that is changing every day, the Company has also launched an innovative service called ‘Impact Sourcing’ for its global customers facing pressures on cost and revenues. This highly focused offering will help clients in the current recession to formulate and implement strategies to achieve maximum value for their IT investments through optimization across the organization. The service is being simultaneously offered in the USA, Europe, Japan and India and the Company expects to garner over 40 million USD of new business through this innovative service, in the next ten months.
The company has named Vivek Gupta, Executive Vice President and a long term member of the management team as Chief Executive of India operations. “We have embarked on significant strengthening of all our offshore services and will also increase our emphasis on getting business in the domestic market in the chosen areas of e-Government, Healthcare and Education. In India technology expenditure is on the upswing and companies are increasingly looking at transformation solutions that will significantly increase efficiencies. Zensar intends to be a leading player in this market” said Vivek Gupta.
Business Update:
• CNBC Award for Best Exporter in IT/ITES, in the medium scale category for the third year in succession April 2009
• Inaugurated its third Global Delivery Centre in Pune, India in April 2009
• People Engagement is at a phenomenal retention rate of 97.2 % - an Industry benchmark
• The Company has also developed an indigenous Carbon Calculator. This tool to gauge individual’s carbon emissions has been launched across the organization and will help Zensarians calculate their individual carbon footprint and bring about a reduction in their carbon emissions.
About Zensar Technologies (www.zensar.com)
Zensar Technologies is among the top 25 software services providers from India. Zensar is the world's first enterprise-wide SEI CMM Level 5 Company and was also later certified as a CMMI Level 5 Company with industry expertise that spans Retail, Manufacturing, Banking, Insurance and Utilities. Zensar has more than 4700 employees with sales and operations presence across US, UK, Germany, Sweden, Finland, Middle East, South Africa, Hong Kong, Singapore, Australia and Japan. The Company delivers comprehensive services in mission-critical applications, enterprise applications, e-business, BPO and Knowledge Services. The Company has developed tools and methodologies, including the proprietary Solution BluePrint (SBP), which enables its clients with innovative business solutions and a rapid ‘go-to-market’ capability. The Company supports Fortune 500 clients with software business solutions that help them compete in the digital economy.
For further information, please contact:
Parul Vaidya
Market Innovation
Zensar Technologies
+91-20-66057852/ +91-9822684686
p.vaidya@zensar.com
