Zensar reports 101.5 % YoY profit jump for first quarter : Pune, India

Highlights Consolidated results for the quarter ended June 30, 2012

1. Revenues grew to Rs 544.29 Crore for the quarter ended June 30, 2012; with a YoY growth of 36.5%
2. Net profit after tax was Rs 54.56 Crore for the quarter ended June 30, 2012 with a YoY growth of 101.5%
3. Earnings per share (EPS) was Rs 12.57 for the quarter ended June 30, 2012; with a YoY growth of 101.4%

On a QoQ basis, Zensar's revenue grew 10.2 % with focus verticals of Manufacturing and Insurance growing by 15.7% and 16.6% respectively. Net Profit grew 38.8 % QoQ. Dr. Ganesh Natarajan CEO and Vice Chairman said “Q1 has been an excellent quarter and demonstrates the robust and risk mitigated nature of our business. Our strong focus on key verticals, diversified geographies and innovation in all our services will ensure that we meet our guidance of 15 to 18 % growth in FY 13.” Zensar’s robust capabilities in multi-shore Infrastructure Management and Applications services have been strengthened through the company’s investments in Cloud, Mobility and Enterprise Social Media Solutions, providing a true consultancy led transformation partnership to clients. In this quarter Zensar has reported 20 new wins some of which are multimillion dollar contracts across verticals. “For the second time in a row, Zensar has been featured amongst the top 12 Indian IT companies in the latest 'Global Outsourcing 100' compiled by the International Association of Outsourcing Professionals (IAOP). Around the world we are helping our clients realize business improvement and true business value through our focus on new models and service offerings” said Ajay Bhandari, Chief Corporate Development Officer. Other Highlights In the Manufacturing vertical the company has bagged a deal in R12 implementation and Master data management with one of the largest private electrical contractors and one of the world’s largest clothing Manufacturers based in the US. Zensar has recently been selected by one of the leading specialty retail stores for children’s apparel in USA for an Oracle R12 upgrade. Zensar will also support a leading bookstore chain in the Asia Pacific region in the areas of supply chain management and SDLC and function as their extended IT arm. The company has signed a new deal with an eminent accountancy body in South Africa for a project on IT support and integration. Zensar has also entered into a multimillion dollar deal in Infrastructure Management with one of the leading worldwide providers of enterprise-class, cloud-enabled hosting, managed applications and services based in the US for a project on Data Center Migration. Zensar will also deliver mission-critical, IT infrastructure services to a leading provider of private student loan credit unions, and schools in the US. In this Quarter, Zensar has added a total of 165 associates taking the total associate count to 7286. The Company has also launched several initiatives to increase operational efficiencies and associate productivity which will offer customers a transformed business proposition. Additionally, the Company has designed and implemented various strategies to develop, grow and retain associates to ensure smooth delivery of client operations.