 "Zensar Technologies Q3 net up 37% annually")
Pune based IT services and solutions firm Zensar Technologies reported net profit of Rs 69.53 crore for the third quarter ended December 31, 2014. Net profit for the same quarter last year was Rs 67.3 crore.
Revenue for the quarter grew 21.2% at Rs 717.67 crore from Rs 592 crore in the corresponding quarter last year. On a sequential basis the company's net profit grew 3.3% and revenue increased by 10.8%.
Revenue growth in constant currency is 9.6% QoQ and 22.9% YoY. Not including Professional Access, Zensar has recorded QoQ revenue growth of 5% in rupee terms and 4% in constant currency.
Profitability has been negatively impacted by Rs 10.2 crore due to customer furloughs.
"Zensar's business continues to show excellent growth in our core markets inspite of customer furloughs. We are delighted with the traction in the IM managed services business. We had stated that this year will be a turnaround year for IM business and it has gone well. Our enterprise business too has done well," said Ganesh Natarajan, Vice Chairman and CEO of Zensar Technologies.
During the quarter the company signed $12 million worth deals in the infrastructure management business in the US.
Going ahead Natarajan said that FY16 in terms of client spends looks good. "We see US showing robust growth and 79% of our revenues comes from the US. Europe will be wait and watch condition and so would be Africa. For FY16 we would see ourselves doing industry leading growth," Natarajan.