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Zensar reports 17.1% sequential Net Profit growth in USD in Q3 FY 16-17
Digital continues to be a strong lever in driving new business, and is 30% of Zensar’s business
Press Release | 24 Jan 2017
Pune, India, January 24, 2017: Zensar Technologies, a leading digital solutions and technology services company that specialises in partnering with global organisations across industries on their Digital Transformation journey, announced its audited consolidated financial results for their Quarter ending December 31, 2016, of the fiscal year 2016-2017.
Financial Highlights: The Company reported quarter on quarter revenue growth of 1.9% in constant currency at close of Q3 FY17 and 1.3% in USD terms from USD 116.0 M to USD 117.5 M. The Net Profit for the quarter grew by 17.1% sequentially from USD 10.3 M to USD 12.0 M. Digital Services continued its growth momentum and contributed 30.0% of Q3 FY16-17 revenue.
Sandeep Kishore, Chief Executive Officer and Managing Director, Zensar Technologies said, “This has been a significant quarter for us with the acquisition of Foolproof Ltd., targeting leadership in CMO driven digital services consistent with our digital strategy and focus. Our investments over the past few quarters in significant new digital platforms - Robotics Process Automation, The Vinci™ - Zensar’s intelligent managed services platform, Cloud etc. have started to pay off with good order booking in these areas.”
“The focus on making investments in line with our clients’ digital requirements with our robust framework on achieving ‘Return on Digital™’ have helped in driving new wins. We continue to have a robust pipeline across all our service lines”, Sandeep added.
S Balasubramaniam, Chief Financial Officer, Zensar Technologies said, “This Quarter our focus has been on farming existing accounts with deeper client engagement and investments in account growth. A number of initiatives have been undertaken to build multi service business and digital opportunities to help our clients in their growth, which have helped us build our focus on profitability and account growth.”
Market Leadership: Digital, eCommerce, and automation have proven as key levers of growth for Zensar, and significant developments have been made in capabilities, partnerships, client acquisition and new services being taken to market.
- Zensar listed as a Strong Performer in the Forrester Wave of Application Outsourcing Capabilities Of Midsize Offshore Vendors 2016
- Zensar highlighted as a Niche and Established service provider in Zinnov Zones’ Digital in Retail 2016
- Zensar named a Niche Player in Gartner’s Magic Quadrant for Managed Mobility Services, Worldwide
- Zensar Technologies Cited in Gartner Report Hybrid IT Infrastructure Management and Cloud Migrations: Top Providers' Strengths and Weaknesses.
- Zensar called out as an Aspirant in Everest Group’s Insurance AO PEAK Matrix 2016
- Zensar bags SAP ACE Award 2016: for adopting Digital Initiatives in Public and Social Sector. Amongst the 500+ registrations, 200+ customers completing the nomination process, the following are the final four shortlisted customers for the Award for Adopting Digital Initiatives in Public and Social Sector by SAP India, along with Zensar – Paayas, Maahi, Shreeja Milk Producer Companies and NDDB Dairy Services.
- The Company participated at the NRF 2017 in New York and presented many new innovative Retail solutions. The Retail Big Show is the retail industry’s flagship event that is held in New York. In its fifth consecutive year of partnership, Zensar had it biggest presence showcasing our key Retail solutions to both existing customers and key prospects across geographies.
- Zensar participated at the Dreamforce 2016 in San Francisco, the flagship event of Salesforce and serves as a platform to interact and collaborate with industry pioneers and thought leaders. Zensar exhibited at Dreamforce for the first time and demonstrated industry wide solutions which leverage Salesforce cloud to deliver supreme business efficiency.
- Zensar participated in Evanta CXO Summits across multiple cities. The Evanta format is an exclusive conference built ‘by CXOs, for CXOs’ to deliver peer insight and networking opportunities. Zensar was the Digital Engagement Host for the Evanta Milwaukee CXO Summit.
- Zensar participated in Gartner’s Data Centre, Infrastructure and Operations Management Conference. At the event this year the company launched its unique and differentiated intelligent managed services platform called ‘The Vinci’.
- Zensar Technologies Joins the United Nations Global Compact. The UN Global Compact is a voluntary initiative based on CEO’s commitment to implement universal sustainability principles within the organisation and to take steps to support the UN goals.
- Zensar Technologies to enable 2 Sisters Food Group streamline Shared Service Centre Operations with Robotic Process Automation through a three year cutting edge RPA led project
- Zensar to partner with Fullbeauty Brands in the transformation of its financial processes.
Digital wins this Third Quarter of FY 17:
- Development of a global unified commerce platform for a $3 Billion US based Clothing and accessories retailer
- Implementation of a next generation Microservices led Commerce platform for one of America’s largest department store
- Robotic process automation for one of South Africa’s largest Fund administration company
- Redesign and Conversion of the mobile gaming platform of South Africa’s largest online Gaming company
- Digital Commerce enhancements and support for a multi-billion provider of personalized services
- Mobile Control and Automation development for America’s leading flower and gift e-tailer
- Significant deal to test mobile application integrations with UK’s leading Utilities provider
- Developing a Real Estate business product for one of America’s largest navigation systems producer
- Digital Commerce rollout using Next Gen Service oriented front end architecture for America’s leading fashion retailer
Significant wins this Third Quarter of FY 17:
- Providing a managed service model for mainframe development for UK’s largest employee owned retailer
- Operations and Infrastructure management support for a US based multi-Billion dollar Airline
- Large Application development and support engagement initiative for the largest networking company globally which designs, manufactures and sells networking equipment worldwide
- Large deal to manage and execute the Service desk operations for one of America’s largest real estate company
- Oracle Applications upgrade for the largest networking company globally which designs, manufactures and sells networking equipment worldwide
- Data Center management deal with a multi-billion dollar American Home furnishing company
- Application development and support for a leading government energy agency
- Infrastructure monitoring and management for one of the largest American airline
- Core applications development for one South Africa’s largest banks
- Application development and services for a $15 Billion Oil Exploration company