Zensar reports 25% YoY growth in Q4 profits

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Zensar Technologies , the leading global IT and BPO services provider has reported excellent working results for the quarter ended March 31^st, 2008.

 

Financial Highlights

Consolidated Results for the quarter ended 31^st March, 2008

-    Revenue was up 19% y-o-y to Rs 204.00 Cr

-    Net Income was up 25% y-o-y to Rs 21.54 Cr

-    EPS up from Rs 7.29 to Rs 8.99, 23% sequential increase 

 

Consolidated Results for the year ended 31^st March, 2008

-    Revenue was up by 29% y-o-y to Rs 782.93 Cr

-    Net Income grew by 12% y-o-y to Rs 64.03 Cr

-    EPS up from Rs 24.22 to Rs 26.73, 10% y-o-y growth  

 

Dr Ganesh Natarajan, Deputy Chairman and MD said, "The three key elements of our strategy for the year - revenue growth through wider and deeper penetration of Fortune 500 customers, new customer access through organic and inorganic expansion and tight management of utilization across our centres in Pune, Hyderabad and overseas have been successful. With the integration of all our acquisitions approaching completion, we are confident of weathering the economic slowdown and accelerating the growth and profits of the company in all geographies." 

 

"Our profit growth of 25% demonstrates the successful integration of our acquisitions and the continuing results of our cost optimisation efforts. At the start of financial year 2008-09 we are pleased to announce a guidance of Rs 80 crores PAT for FY09, which represents a 25% Y-o-Y growth", said S Balasubramaniam, Chief Financial Officer, Zensar Technologies Ltd.

 

V Bala, Executive Vice President, Global Transformation Services (EMEIA), Zensar Technologies said, "The emerging markets have been significant growth drivers for Zensar. India and Middle East have proven to be tremendously successful with an annual growth of 143%. South Africa and Japan too have emerged as key markets with growth in business from the territories at 88% and 89% respectively increasing our faith in these markets."

 

Business Update

 

• The Company added 23 clients during the quarter.
• The Company has 4483 employees as on 31^st March, 2008. The utilization level has reached an all time high of over 85%.
• A 500 seat multi-year BPO contract has been signed with a significant North American firm. Zensar BPO has been rated amongst the Top 20 providers by the FAO magazine.
• Zensar has also been awarded the DHL-CNBC International Trade Awards for Exporter of the Year for the second consecutive year
• Zensar has won over five million USD of new deals in Middle East and South Africa in the first three months of 2008 and is now targeting over ten percent of its total revenues from these fast growing segment of the market. The emerging markets have been maturing as outsourcing destinations in addition to the mainstay territories of US and UK.
• India and Middle East have been a noteworthy Retail story with key wins including a world-class operator within the retail sector in the UAE and the GCC in general, leading luxury retailer from the Middle East region, and one of the largest retail chains in Middle East. For these accounts Zensar has been engaged as a strategic partner for end-to-end implementation. Other key wins include the retailing arm of a large Indian conglomerate and leading French international hypermarket chain.
• Similarly the South Africa region has emerged as a successful Insurance hub with two leading insurance companies signed up as Zensar's customers.
• Zensar has recently also received its Broad-based Black Economic Empowerment (BEE) certificate. This initiative is adopted by most South African businesses, and as an Indian IT vendor Zensar has embraced the national initiative showing our commitment to the territory. Zensar's BEE initiative revolves around skill development, helping South Africa Local Universities to develop ICT skills in the country which is a keen Government focus area. 

Sourced From: Zensar Technologies