Zensar Technologies Reports 18.6% Year on Year Revenue Growth : Pune, India
Press Release | 22 Apr 2013
Zensar Technologies Ltd has reported good growth numbers in the year ended March 31, 2013. The Company’s revenues grew by 18.6% over last year from Rs 1782.48 Crore to Rs 2114.52 Crore, and the profits after tax grew by 10% from Rs 158.71 Crore to Rs 174.53 Crore. The Company’s revenues for the fourth quarter are Rs 508.14 Crore, as compared to the same period last year of Rs 493.91 Crore. Dr Ganesh Natarajan, Vice Chairman and MD of the Company said, “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.” The success of the vertical model for Zensar is visible from performance of the two key verticals of Manufacturing and Insurance which grew by 28.4% and 26.7% respectively during the year. Nitin Parab, Chief Executive of the Enterprise Transformation business said, “We have had a good last six months with 17 multimillion dollar deals being signed. The most significant of these deals include Assurant Health, where Zensar will assist the client in meeting challenges posed by the continuing implementation of the provisions of the Affordable Care Act of 2011.” He added, “We have defined the arrowheads for each of the four chosen verticals of Manufacturing, Insurance, Retail and Healthcare which focus on business outcomes for our clients in all markets.”
- Akibia Inc. an Infrastructure Management specialty company that was acquired by Zensar in December 2010 has been fully integrated into the Company completing the IM service portfolio and enabling the company to focus on multi shore transformational IM deals and Total Infrastructure Outsourcing.
- The Company has reported 16 wins this quarter across its focus verticals, some of which are large annuity contracts in core areas of application development and infrastructure management
- In the manufacturing space the Company is now working with:
- A primary design engineering and manufacturing Company of custom lithium battery packs, power supplies and modules for a variety of applications
- Leading manufacturing companies for enterprise application implementation, support, CRM and SAP enhancement
- Foremost telecom solutions provider, enabling their geographically dispersed workforces to communicate and collaborate more effectively and productively over distances.
- In the BFSI industry segment Zensar has signed up with:
- Leading specialty property / casualty insurer and reinsurer in the US for an SAP Managed Services project that includes support, maintenance and custom development in addition to supporting the organisation for Professional Services in the BI space
- Leading Insurance organisation based in Singapore, a wholly owned subsidiary of one of the 3rd largest Property and Casualty Insurance carrier in U.S.
- One of the primary financial agencies in the US that provides credit ratings, research, tools and analysis has signed a multiyear contract in the Infrastructure Monitoring, Capacity Planning and Asset Management; all in the Remote Infrastructure Management Services space