Zensar Technologies zooms 11% on strong Q4 performance; profit rose 45% YoY

Shares of Zensar Technologies rose 11.4 per cent at Rs 641.75 a piece on BSE in Friday’s intraday trade. This came after the company reported a 45 per cent surge in its net profits year on year to Rs 173.30 crore for the quarter ending March 2024, as against Rs 119.20 crore in the same quarter of the previous year.

Sales of the company also increased by 1.41 per cent to Rs 1,229.70 crore during the same period, compared to Rs 1,212.60 crore in the previous year.

For the full fiscal year, net profit soared by 103 per cent to Rs 665.00 crore in the year ending March 2024, up from Rs 327.60 crore in the previous fiscal year. Sales for the year also witnessed a growth of 1.11 per cent to Rs 4,901.90 crore compared to Rs 4,848.20 crore in the previous fiscal year.

The board proposed a final dividend of Rs 7 per equity share for FY 2023-24, pending member approval at the Annual General Meeting.

“Sequential growth across all our verticals is a testimony of our robust strategy and our bias towards execution excellence. We moved strength to strength in our client centricity journey by achieving our best customer experience score ever in FY24. Our results give us the confidence to continue strategic investments in our service lines and enhance our capabilities in new age technologies such as Gen AI to foster innovation and deliver growth,” said Manish Tandon, CEO and Managing Director, Zensar.

At 11:14 AM, the stock of the company was trading 9.31 per cent higher at Rs 628.75 per cent per share. In comparison the S&P BSE Sensex was down 0.25 per cent at 74,154 levels. 

A combined 3,16,390 shares of the company changed hands on the BSE. The stock had hit a 52 week high of Rs 645.65 on April 8, 2024, while it hit a 52-week low of Rs 270.40 on April 27,2023. The shares of the company are presently trading at a price to earnings multiple of 25.24 times.