Zensar Tech shares plunge nearly 8% on disappointing Q4 profit

Shares of software services firm Zensar Technologies today plunged nearly 8 per cent after the company reported decline in consolidated net profit for the March quarter.
The scrip of the mid-sized IT firm dipped by 7.77 per cent to Rs 919 at BSE.
On NSE, it tumbled 7.84 per cent to Rs 920.
Zensar Tech on Friday reported a marginal dip in consolidated net profit at Rs 70.67 crore for the March quarter, weighed down by lower revenue from its maintenance services business.
The Pune-headquartered firm had posted a net profit of Rs 71.80 crore in the year-ago period.
Its consolidated revenue rose by 12.4 per cent to Rs 751.39 crore in the January-March quarter last fiscal from Rs 668.09 crore in the same quarter of 2014-15.

For the entire 2015-16 fiscal, Zensar reported a net profit of Rs 311.90 crore and revenue at Rs 2,978.04 crore.