Zensar announces 41.3% year on year PAT growth in Fourth Quarter : Pune, India
Press Release | 22 Apr 2014
The Company’s enterprise business shows significant success in key markets Zensar Technologies today announced its fourth quarter results, reporting revenues of Rs 602.54 crores, a growth of 18.6% over the previous year revenues of Rs 508.14 crores. The PAT is at Rs 55.25 crores, a 41.3% increase over the same quarter previous year PAT at Rs 39.10 crores. For the year ended March 31, 2014, Zensar Technologies reported revenues of Rs 2,315.60 crores, a growth of 9.5% over the previous year revenues of Rs 2,114.52 crores. The PAT is Rs 237.53 crores, a 36.1% increase over the previous year PAT at Rs 174.53 crores. Announcing the results Dr. Ganesh Natarajan, Vice Chairman and CEO, Zensar Technologies said, “We are delighted with the smart uptick in our applications business in Western markets, with sequential growth of 10.3% this quarter in constant currency. We are seeing increasing customer demand for all our services, which now cover the full span, from digital transformation through IM, ERP, Applications Management to Business Process Management.” The Company has been focusing on new client acquisition and strategic deals in core markets with significant traction in large Fortune 1000 companies. The Company recently announced Rs 100 crores of new business in core markets. Nitin Parab, Chief Executive and Head, Enterprise Transformation Business, Zensar said, “Our strategies for new client acquisition, and for supersizing deals in the US region have shown significant traction helping provide the necessary boost to sales. The client acquisition in the US has shown optimistic trends in core verticals that we are focusing on. The order book for the year ahead looks strong and we hope to close some significant deals in the pipeline in the coming months.” In the fourth quarter the Company has signed a major deal with a large multibillion dollar American enterprise that designs and builds specialty trucks and military vehicles, and that operates as a leader in every market in which it competes. The company is a Fortune 500 organization with manufacturing operations in the Americas, Europe, Asia, and Australia. This large deal with the client involves a full-featured team in select areas, to scale with demand over a two-year period. The strategic nature of this project positions Zensar well with the client and also has the Company poised for additional opportunities in the near future. Currently, Zensar is building critical enterprise wide systems for the client’s supplier network. It has also signed its largest deal to date in the dual shore IM space with an existing American client. Another significant deal has been closed with a specialty insurance and reinsurance company which operates underwriting hubs worldwide and operates more than 50 offices worldwide, expanding Zensar's existing reach from the company's UK operations into the US as well.
- Zensar has received its Oracle Platinum Partnership for all our Associated Entities in the US, UK, South Africa, Middle East, China, Singapore, Australia and India.
- The Company also features significantly in the Forrester Report amongst the ‘The New Breed Of Oracle Services Partner’
- Zensar has also received the Microsoft Gold Application Development, Application Integration certification
- Zensar has been featured in the Novarica report as amongst the 14 technology service providers for Property and Casualty Insurance companies.