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Zensar reports 12.8% YoY revenue growth in Q2FY20

Posted On: 2019-10-22 13:05:28

Zensar Technologies, a leading digital solutions and technology services company that specialises in partnering with global organisations on their Digital transformation journey, announced its audited consolidated financial results for its second Quarter ending September 30, 2019 of the fiscal year 2019-2020.

Financial Highlights: The company reported 12.8% YoY revenue growth at close of Q2Y20 from 135M USD to 152.3M USD. In sequential terms, revenues grew 0.3% in Constant Currency. The PAT for the quarter grew 0.2% sequentially and stood at 7.4% of the revenue. Digital revenues continue to grow and have moved up by 25.2% YoY crossing the 50% mark for the first time and is now 50.1% of Q2FY20 revenue.

Sandeep Kishore, Chief Executive Officer and Managing Director, Zensar Technologies said, "Zensar's year-on-year revenue growth continues to be strong with an increase of 14.1% on constant currency basis. Digital continues to maintain consistent momentum and grew by 25.2% YoY."

Navneet Khandelwal, Chief Financial Officer, Zensar Technologies said, "We continue to focus on operational effectiveness across all parameters, YoY EBIDTA growth of 17.2% reflects our focus on the same. We would also like to highlight addition of 3 accounts to our USD 5MN+ customers in this quarter, taking total to 23 such clients."

Due to the company's focus on core business operating performances, the core business operating margin is maintained at 14.0% despite wage hike in the quarter gone by. The wage hike in Q2 was negated by improved operational efficiencies. The quarterly revenue performance was impacted by the completion of two client specific programs.

Significant Wins Q2FY20:

- Deliver next-gen retail innovation for Aptos, a recognized market leader in retail technology solutions
- Cloud and Infrastructure managed services support for a leading vision care company based in the US
- Application and development mandate for a large US based hi-tech global company
- Testing mandate for a leading financial services group in South Africa
- Enterprise applications mandate for Vyaire Medical, US

Corporate Excellence Snapshot in Q2FY20:

- Challenger in Digital Masters Avasant RadarView™ 2019
- Niche in Gartner Magic Quadrant for Oracle Cloud Application Services, Worldwide' 19
- Gartner Critical Capabilities for Oracle Cloud Applications Services, Worldwide 2019
- Hfs mentions Zensar as a rising mid-tier company
- Global data covers Zensar's RoD Conclave Analyst & Advisor Day
- Challenger in the Avasant Blockchain RadarView™
- "Innovators" category in Applied AI & Advanced Analytics Services Radarview™
- Major Contender in Digital Interactive Services Peak Matrix by Everest
- Mentioned in Gartner Market Guide for Blockchain Implementation Services
- Mentioned in the Blockchain Service Providers Toolkit
- Niche Player in the Gartner 2019 Magic Quadrant for Data Center Outsourcing and Hybrid Infrastructure Managed Services, North America
- Zensar listed in Gartner Critical Capabilities for Data Center Outsourcing and Hybrid Infrastructure Managed Services, North America
- Zensar's Smart Autonomics Platforms was featured in a 451 Research report in September 2019

Awards and Recognitions in Q2FY20

- Zensar Recognized for Excellence in Leveraging HR Technology and Excellence in HR Analytics at the annual SHRM HR Excellence Awards 2019
- Zensar wins recognition in the category of 'Best Leadership Development Program' and 'Best OD Intervention' at the L&D World Summit 2019.
- Zensar wins 2019 Future of Learning & Development "Best Learning Strategy of the Year" Award
- Zensar awarded Automation Anywhere's 2019 'Growth Partner of the Year for South Africa'
- Zensar featured in 2019 Working Mother & Avtar 100 Best Companies for Women in India list
- Zensar is a finalist in 3 categories at the ISG Paragon Awards™

Shares of ZENSAR TECHNOLOGIES LTD. was last trading in BSE at Rs.208.75 as compared to the previous close of Rs. 210.75. The total number of shares traded during the day was 7339 in over 847 trades.

The stock hit an intraday high of Rs. 222.75 and intraday low of 208.75. The net turnover during the day was Rs. 1587065.

Source: Equity Bulls

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