Zensar Reports Rs 48.7 Cr Profits on Rs 524.8 Cr Revenue, in Q3 FY 13 : Pune, India
Press Release | 21 Jan 2013
Zensar Technologies Ltd has reported steady working results for the quarter ended December 31, 2012. The Company’s profits moved up smartly by 51% in sequential quarter growth from Rs 32.17 crore to Rs 48.7 crore. The Company’s revenues for the third quarter are Rs 524.78 crore, as compared to the same period last year of Rs 480.83 crore, and Rs 537.31 crore in the second quarter of the current fiscal. Dr. Ganesh Natarajan CEO and Vice Chairman, Zensar Technologies said, “The Company has maintained steady performance with all focus verticals showing growth. The Insurance business is upbeat and Manufacturing and Retail continue to be on target, showing a healthy pipeline of business and a good order book to help us attain our growth goals. In the Infrastructure Management business ,though the data center and products business has been sluggish, Integrated Dual Shore IM has been showing good traction with a number of significant deals being converted this Quarter.” Year to date the Company has signed over a dozen multi-million dollar deals with cumulative value of over 120 Mn USD across verticals. The Insurance vertical has been a major growth engine reporting significant successes with a 24 Mn USD deal with a leading US health insurance provider. As part of the 5 year deal, Zensar will assist the client in meeting the challenges posed by continuing implementation requirements because of regulations. Zensar has been their leading offshore development partner, with services spanning the breadth of Development, Testing, Maintenance, Support and Enhancement of its suite of business applications including Policy Administration, Underwriting, Claims Processing and Business Intelligence. Zensar has also signed up a 5 year deal with large progressive African wealth management group providing managed services and application support. S Balasubramaniam, Chief Financial Officer, Zensar Technologies said, “Due to planned shutdown in two significantly large accounts, revenues were lower by 2.3% this Quarter, however continued focus on utilization and productivity have seen profits move up sharply by 51%. The order book and deal pipeline are in line with our growth plans.”
- In this quarter Zensar has reported 18 wins across its focus verticals, some of which are large annuity contracts in core areas of application development and infrastructure management.
- The Infrastructure Management business order book and pipeline has been significant and has reported a number of large deals namely – data centre services for one of the largest manufacturers of mobile telecommunications equipment globally; a multi-year total infrastructure outsourcing deal providing data centre hosting, infrastructure and application services with a leading telecommunications and network services; a multi-year managed services deal for support and development of web applications and the Business Intelligence stack for a leading manufacturer of biomedical testing equipment.
- Adding to Zensar’s Manufacturing portfolio is a new deal for global data centre services project with one of the leading European manufacturers of mobile, fixed networks, multimedia solutions and telecom services. The scope of the project is to provide 24x7 Data Centre Services for Oracle and HP servers. This will include Service Desk Support, Remote Technical Support, Onsite Field Support and also Hardware Maintenance Support.
- The Company has also been selected as a preferred IT partner for their global Oracle implementation, Business Intelligence and Support business by two leading Manufacturing Companies. One is a leading manufacturer of industrial testing equipment headquartered in the US with manufacturing centres located in the US, Europe and Asia. The other is a leading manufacturer of cutting edge products in the biomedical testing space based in the US.
- The Company will support two leading healthcare organizations based in the US and Singapore in the areas of IT support application enhancement and improved user experience.
- In the banking and financial services sector the Company has bagged deals with some of the leading banks and insurance providers in the areas of Application Support and Enhancement, Strategic Consulting and new technology development.
- The Company has also signed multiple deals in the real estate, media, travel and transportation. These engagements involve application, design, testing, product engineering and development.