Zensar revenues show 9 % sequential growth for Q2
Pune, India 21/10/2010,
Zensar Technologies, the leading global IT and BPO services provider has reported strong volume growth and good results for the quarter ended 30th September 2010.
Financial Highlights Consolidated Results for the quarter ended 30th September 2010:
- Net Income was Rs 32.49 Cr showing a growth of 9% y-o-y and 18 % sequentially
- Net income was Rs. 27.50 Cr (Rs 32.48 Cr), a 15% sequential drop
- Earnings per share stands at Rs 6.37 this quarter
The reduction in net income has been caused by the quarter-end closing rate of the US dollar, which depreciated by 4% against the Rupee (June 10 – 46.14 vis-a-vis Sept 10 – 44.23), causing significant impact on other income by Rs.7.26 Cr sequentially on account of unrealized losses on revaluation of closing debtors.
In the second quarter Zensar has added 24 customers to its portfolio and has seen business renewals and new business in all its key geographies of USA, UK, Singapore, South Africa and Japan. The company has also appointed a country sales head for Saudi Arabia to strengthen its Middle East operations.
Dr. Ganesh Natarajan, Vice Chairman and MD, Zensar said, “Zensar is riding the wave of global economic recovery with excellent order booking and volume growth in all markets. Our center in Shanghai has commenced and we intend to add another center in India soon and one in Jordan or Egypt to support our Middle East expansion in 2011.”
In keeping with the focus on the emerging markets of India, Zensar launched an innovative solution for the small and medium enterprises (SMEs) sector for the domestic market during the quarter. Powered by Microsoft’s Dynamics ERP, Zensar’s hosted Enterprise Resource Planning (ERP) is a complete ERP solution from Microsoft for mid-sized organizations with proven industry-specific functionality even for highly specialized industries. The web-based ERP solution launched by Zensar is tailored to the specific needs of emerging Indian small and midsize manufacturing companies, who are facing multiple challenges of high growth, shortage of in-house IT systems and talent and budget restraints. The combined expertise of Microsoft the worldwide leader in business applications and Zensar’s SME-specific solution portfolio and understanding of the local market, assures Indian companies of a solution that enables businesses with industry-specific, scalable and affordable solutions. The launch has generated considerable interest in the domestic market and a substantial number of users have signed up for pilot implementations.
S Balasubramaniam, CFO, Zensar said, “In spite of a tough currency situation, we have reported a good quarter and are on track to meet our growth targets for the year.”
Business Update:
- The Company has added 243 associates in the second quarter and the total head count was at 5,585 as on 30th September 2010
- The Company has added 24 new customers in this quarter
- The Company has entered the ranking of India’s top 20 software companies by NASSCOM
- The company is ranked in the leader’s category by International Association of Outsourcing Professionals (IAOP) Survey 2010
- Zensar’s Vision Community has been the subject of an exclusive Harvard Business School Case Study – Zensar: The Future of Vision Communities
About Zensar Technologies (http://www.zensar.com/)
Zensar Technologies is among the top 20 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, Utilities, Healthcare and Life Sciences. An RPG Group company, Zensar has more than 5500 employees with sales and operations presence across US, UK, Germany, Sweden, Finland, Middle East, South Africa, Singapore, Australia, China 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:
Manisha Luthra
Market Innovation
Zensar Technologies
+91-20-66057512/ +91-9870131990
manisha.luthra@zensar.com
Shaonlee Bose
Head-Market Innovation ,
Zensar Technologies
Landline : +91-20-66057845| +91-99230-74441
Email : s.bose@zensar.com
