Zensar reports strong margins, Revenue grew by 0.6% QoQ

Pune, India, October 29, 2020: Zensar, a digital solutions and technology services company that specialises in partnering with global organisations on their digital transformation journey, announced its consolidated financial results for Quarter ending September 30, 2020, of the fiscal year 2020-2021.
 

We have seen all our key metrics performing steadily in Q2FY21, as our adjusted PAT for the operating business at 9.1% was an increase of 24.0% QoQ in USD terms, our revenue has grown 0.6% on QoQ basis. Our people’s well-being continues to be our key priority as we enable them to perform seamlessly through secure remote working.”  

Adding further he said, “Our Digital Foundation Services continues to perform consistently posting a YoY growth of 11.4%; we have seen stability in Consumer Services business as it grew 12.8% sequentially and with addition of new logos in our Financial services business which has increased by 6.7% QoQ. We won USD 175 M of total TCV wins including renewals in Q2.”
 

Navneet Khandelwal, Chief Financial Officer, Zensar Technologies said, “Our efforts at streamlining financial and operational fundamentals in Q2FY21 has resulted in effective cash and cost management. We have seen an improvement in our Gross Margin at 34.1% which is an increase of 530 basis points over the previous quarter. Our EBITDA is at 18.8%, an increase of 440 basis points QoQ, as we continue our rigor in improving our operational efficiencies. Our adjusted PAT for the operating business was at 9.1% which is an increase of 170 basis points QoQ.”
 

*In Q2FY21, including the exceptional item of loss amounting to USD 11.9 Million on account of adjustment in respect of excess of carrying amount including goodwill over recoverable amount on classification as “Held for Sale”, reported PAT is USD 0.1 Million (Refer Note 6 of Published Quarterly Financial Results for Q2 FY21).