Zensar Tech Q1 net doubles to Rs 54.6 cr
News | 26 Jul 2012
Company's revenue grew 36.5% to Rs 544.29 crore during the quarter Software firm Zensar Technologies today said its first quarter net more than doubled to Rs 54.56 crore on growth in volume and good performance in key verticals of manufacturing and insurance. The Pune-based RPG Group company's revenue grew 36.5% to Rs 544.29 crore during the quarter ended June 30 over Rs 398.77 crore a year ago. "The first quarter has been excellent and demonstrates the robust and risk-mitigated nature of our business. Our strong focus on key verticals, diversified geographies and innovation will ensure that we meet our revenue guidance of 15 to 18% this fiscal," Zensar Vice-Chairman and Chief Executive Ganesh Natarajan told reporters here.
On a quarter-on-quarter basis, Zensar's revenue grew 10.2% with focus verticals of manufacturing and insurance growing 15.7 and 16.6%, respectively, he said. The IT company, which nets 75% of its revenue from the US, is looking at hiring 600-700 people in FY'13. Of this about 400 will be freshers, Natarajan said. Zensar's current workforce is about 7,300. "Going ahead we are planning to bring down our US business to about 65% and focus on increasing our Asia Pacific and Africa territories," he said. He said the company is looking at organic as well as acquisition-led growth in the cloud space, manufacturing and infrastructure, in that order of priority, mostly in the US, the largest market for Indian software firms.