Zensar posts excellent profit growth in Q1 of FY 11
The Company’s focus on emerging markets and Innovation led strategies reap rich rewards
Pune, India 15/07/2010,
Zensar Technologies, the leading global IT and BPO services provider has reported excellent growth both in terms of revenue and profit for the first quarter ended 30th June 2010.
Financial Highlights Consolidated Results for the quarter ended 30th June 2010:
- Net Income was Rs 32.49 Cr showing a growth of 9% y-o-y and 18 % sequentially
- Revenue was Rs 241.61 Cr, a growth of 5% y-o-y and 4% sequentially
- Earnings per share stands at Rs 7.53 this quarter
The Company has added a total of 23 new customers to its portfolio with six significant accounts which have the potential of becoming key accounts for Zensar.
Given the focus on emerging geographies and IP led service offerings, the Company has inaugurated two new facilities in India, which include a development centre at Hyderabad and a centre in Delhi, which will be the Intellectual Property Showcase for Zensar and will strengthen its footprint in the domestic market to bring complete range of transformation services and easily deployable solutions to Indian customers.
Dr Ganesh Natarajan, Vice Chairman and Managing Director, Zensar Technologies said, “The year has begun with a good Quarter for Zensar as we have reported excellent growth numbers of Rs 241.61Cr in revenue and Rs 32.49 Cr in PAT. Our focus on strengthening our enterprise business and exploring new markets with new IP led solutions will be intensified during the year to continue our profitable growth.”
Emerging markets of India, Middle East and South Africa continue to be growth drivers for the company. These regions have seen some significant wins which include South Africa’s leading consumer products company, a niche business transformation solutions provider also from the same geography; a world-class real estate developer from the Middle East and a leading retailer from India. Other wins include leading debt advice charity in the UK and a leading provider of consulting and outsourcing services for Oracle applications in the US.
New service offerings introduced in the last quarter continues to reap rich dividends especially in the area of templatised package implementation. Zensar’s SAP solutions for Manufacturing, Retail, Pharma, Textiles and Dairy have already been deployed in over fifty customers around the country. We have launched a hosted solution suite which aims to help mid-size and small companies get started with a lower up-front cost by eliminating capital outlay traditionally required for acquiring a software license or IT hardware.
Other service offering includes platform-based BPO solutions for changing market needs and the new focus in this segment includes "integrated platform" that will offer a standard software offering, not just the people and the process expertise. This service is designed to transform the Source to pay processes for global and domestic enterprises.
The Company continues its recruitment drive to support growing operations in India and international markets. Gopalji Mehrotra, Global Head - Human Resources said, “It is our endeavor to provide associates with an environment that is stimulating with high levels of motivation, empowerment, and recognition. This year, we have given industry matching increments for majority of our associates along with special plans for high performers ranging up to 21% increases. With the demand for our services being strong in all markets and development of new services being ahead of plan, we are also looking at augmenting our talent pipeline across all levels in the organization.”
Business Update:
- The Company has added 109 associates in the first quarter, and the total head count was at 5342 as on 30thJune 2010.
- The Company has added 23 new customers in this quarter , 8 in the Application Services space and 15 in the Enterprise Application space.
- The Company has been selected by Activision Publishing, Inc. as a service delivery partner for their global applications and support
- Zensar was also named a Platinum Partner in the Oracle ® PartnerNetwork for expertise in providing world class solutions and services across Oracle Applications and technology products
About Zensar Technologies (http://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 5000 employees with sales and operations presence across US, UK, Germany, Sweden, Finland, Middle East, South Africa, 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
