Johannesburg, 23 Apr 2014
Mid-sized software services firm Zensar Technologies today reported 41.3% jump in consolidated net profit, at Rs 55.25 crore for the quarter ended 31 March 2014, helped by good performance of its applications business in Western markets.
The Pune-headquartered firm had posted a net profit of Rs39.10 crore in the year-ago period. Consolidated revenue rose by 18.6% to Rs602.54 crore in the January-March quarter of 2013-14 fiscal from Rs508.14 crore in the same quarter of 2012-13.
Commenting on the performance, Zensar Technologies Vice-Chairman and CEO Ganesh Natarajan said: "Our applications business in Western markets has performed well with sequential growth of 10.3% this quarter in constant currency."
Zensar, an RPG Group company, expects increase in customer demand for all service segments from digital transformation through IM, ERP, applications management to business process management (BPM), he added. For the entire 2013-14 fiscal, Zensar reported a 9.5% growth in revenue at Rs2 315.60 crore from Rs2 114.52 crore in the year-ago period.
Net profit grew 36.1% to Rs237.53 crore in FY14 from Rs174.53 crore in the previous fiscal. On the growth in geographies, Natarajan said: "The US and Europe has performed well for the company."
For January-March period of last fiscal, Zensar derived 75% of its revenue from the US followed by Europe (11%), Africa (8%) and Rest of the World (6%).
In terms of service offerings, Application Management accounted for 68% of the revenue, which was followed by Infrastructure Management (22%) and Products and Licences (10%).
Natarajan said Zensar added eight significant clients among others during the quarter, taking its total active client base to over 300 as of 31 March 2014.
Its total headcount stood at 6 791 for the period ended 31 March 2014.
On hiring, Natarajan said: "We will hire about 600 people in Fiscal 2015, which includes 300-350 freshers and 250 lateral hires."
Going forward, the firm expects growth in volume and will focus on Benelux and Dark region (Germany, Austria and Switzerland) region in Europe among others.
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