Zensar Technologies reports 120% YoY PAT growth : Pune
Press Release | 22 Oct 2013
Zensar Technologies Ltd has reported excellent growth in profits in quarter ended September 30, 2013. The company’s profits after tax grew significantly year on year, by 120% from Rs. 32.17 Crore to Rs. 70.63 Crore, and the revenues grew by 9.8% year on year, from Rs. 537.31 Crore to Rs. 589.77 Crore. Dr Ganesh Natarajan, Vice Chairman and CEO, said, “With industry leading sequential growth of 5.8% in constant currency terms in our key markets of USA, Europe and Africa, our services business continues to be robust”. S. Balasubramaniam, Chief Financial Officer, said, “With our balanced portfolio of services in mature and emerging technologies, we are rightly positioned to capitalize on the current upswing in the economy, in our key markets”. Business Highlights Zensar has signed 12 significant deals this Quarter including :
- A market leading innovator of lighting products
- A leading manufacturer of engineering solutions in data and power sectors
- A five-year total infrastructure outsourcing deal with a world leading direct selling company
- A leading financial services company
- One of the largest banks in South Africa
- An investment management powerhouse in Africa
Growth Markets: Reiterating the company’s commitment to South Africa, Zensar entered into an agreement with a majority black owned investment business Kapela Fund 1 (Kapela) and The Tomorrow Trust to set up a new Broad Based Black Economic Empowered company in South Africa. Zensar will be the majority shareholder of the company expanding its presence in South Africa with services in many areas to new customer segments. This venture will help Zensar expand its footprint into Government contracts and also to enhance the company’s standing in the Broad-Based Black Economic Empowerment (B-BBEE) code of the Government.
New Services: As per the McKinsey-NASSCOM survey, 52% of companies with captives in India intend to increase their offshore penetration by 15-30% over the next two to three years. It is also expected that almost all Fortune 500 companies will establish their own captives and/or shared services centers by 2020. Recognising the significant market potential in this space, the company has established its ‘Insourcing Services’ unit that specialises in partnering with large multinational organisations to jointly build enhanced value propositions by utilising global talent and leveraging a global footprint.
Digital Enterprise Partner Ecosystem: Zensar, through its unique initiative, brought together product start-ups in India, evaluating their innovations, to further help take the shortlisted products global. These start-ups are in the new age technology areas of SMAC (Social, Mobility, Analytics and Cloud). With the emergence of these new technologies, organisations today are looking at integrating applications across the enterprise seamlessly, with the ability to dashboard and allow for easy anywhere-anytime accessibility.