Zensar Technologies profit falls to Rs.39.10 crore
News | 22 Apr 2013
Pune-based software services provider Zensar Technologies Ltd on Monday reported a marginal fall in net profit toRs.39.10 crore in the quarter ended 31 March from Rs.39.29 crore a year ago. Profit dropped 19.71% from the preceding quarter as it incurred a foreign exchange loss of Rs.8.01 crore in the March quarter compared with a foreign exchange gain of Rs.10.5 crore in the December quarter. Revenue rose 2.8% to Rs. 508.14 crore from a year ago. For the fiscal year ended 31 March, revenue grew 18.6% to Rs 2,114.52 crore led by growth in its manufacturing and insurance businesses, and net profit grew 10% to Rs 158.71 crore to Rs 174.53 crore. In spite of a tough economic environment and a business model change in our infrastructure management unit, we have ended the year on a good note with excellent order book and pipeline,â€ said Ganesh Natarajan, vice chairman and managing director of Zensar. The company's two key units--manufacturing and insurance--grew 28.4% and 26.7%, respectively, for the full year. It signed 17 multimillion dollar deals in the year. Zensar dropped 3.7% to Rs 247 on the BSE while the benchmark Sensex was up 0.81% to 19,169.83 points on Monday. The results were declared after market hours.