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Zensar Technologies Results: Latest Quarterly Results & Analysis

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Zensar Technologies Ltd. 30 Jul 2026 11:20 AM
Result PDF

Q1FY27 Quarterly Result Announced for Zensar Technologies Ltd.

IT Consulting & Software company Zensar Technologies announced Q1FY27 results

Consolidated Financial Highlights:

  • Consolidated Revenue from operations for Q1FY27 reached Rs 15,083 million, representing a YoY growth of 8.90% from Rs 13,850 million in Q1FY26 and a QoQ increase of 3.99% from Rs 14,504 million in Q4FY26. The total revenue for the full year FY26 was Rs 56,874 million.
  • Total income for the group in Q1FY27 stood at Rs 15,656 million, showing an 8.60% YoY increase from Rs 14,417 million in Q1FY26 and a 3.31% QoQ increase from Rs 15,154 million in Q4FY26. For the full year FY26, the Total income was Rs 59,213 million.
  • Consolidated Profit before tax for Q1FY27 was Rs 2,462 million, a YoY growth of 2.33% from Rs 2,406 million in Q1FY26, while declining by 10.76% QoQ from Rs 2,759 million in Q4FY26. For the full year FY26, Profit before tax was Rs 10,217 million.
  • Net profit after tax for the period (attributable to owners) in Q1FY27 was Rs 1,838 million, reflecting a marginal YoY growth of 0.99% from Rs 1,820 million in Q1FY26 and a QoQ decline of 12.73% from Rs 2,106 million in Q4FY26. For the full year FY26, Net profit was Rs 7,746 million.
  • Total comprehensive income for the period attributable to owners in Q1FY27 was Rs 1,857 million, showing a YoY decrease of 10.12% from Rs 2,066 million in Q1FY26 and a QoQ decrease of 31.07% from Rs 2,694 million in Q4FY26.
  • Basic Earnings Per Share (EPS) for Q1FY27 was Rs 8.11, compared to Rs 8.01 in Q1FY26 and Rs 9.29 in Q4FY26. The annual Basic EPS for FY26 was Rs 34.12.

Standalone Financial Highlights:

  • Standalone Revenue from operations for Q1FY27 was Rs 7,632 million, showing a YoY growth of 22.66% from Rs 6,222 million in Q1FY26 and a QoQ growth of 2.88% from Rs 7,418 million in Q4FY26. Standalone revenue for the full year FY26 was Rs 27,388 million.
  • Standalone Total income for Q1FY27 stood at Rs 8,366 million, an increase of 16.65% YoY from Rs 7,172 million in Q1FY26 and a marginal QoQ decrease of 0.37% from Rs 8,397 million in Q4FY26. For the full year FY26, Standalone Total income was Rs 30,659 million.
  • Standalone Profit before tax for Q1FY27 was Rs 2,344 million, reflecting a YoY growth of 10.15% from Rs 2,128 million in Q1FY26 and a QoQ decline of 4.44% from Rs 2,453 million in Q4FY26. Standalone Profit before tax for FY26 was Rs 8,622 million.
  • Standalone Net profit after tax for Q1FY27 was Rs 1,835 million, representing a YoY growth of 6.81% from Rs 1,718 million in Q1FY26 and a QoQ decline of 7.88% from Rs 1,992 million in Q4FY26. For the full year FY26, Standalone Net profit was Rs 6,860 million.
  • Standalone Total comprehensive income for Q1FY27 was Rs 1,809 million, compared to Rs 1,725 million in Q1FY26 and Rs 1,981 million in Q4FY26.
  • Basic Standalone EPS for Q1FY27 was Rs 8.09, compared to Rs 7.57 in Q1FY26 and Rs 8.79 in Q4FY26.

Business Highlights:

  • Segment-wise Revenue:
    • Digital and Application Services revenue for Q1FY27 stood at Rs 11,672 million, compared to Rs 10,929 million in Q1FY26 and Rs 11,145 million in Q4FY26.
    • Cloud Infrastructure and Security revenue for Q1FY27 was Rs 3,411 million, compared to Rs 2,921 million in Q1FY26 and Rs 3,359 million in Q4FY26.
  • Treasury Shares: As at June 30, 2026, the Zensar Employees Welfare Trust (ESOP Trust) has acquired 7,81,257 Equity shares from the open market, which are treated as Treasury Shares by the Company.
  • Statutory Impact of New Labour Codes: Pursuant to the notification of New Labour Codes effective from November 21, 2025, the Group had recognized a one-time past service cost of Rs 249 million in the previous financial year ending FY26. For the quarter ending Q4FY26, it recognized a one-time past service cost of Rs (5) million on post-employment defined benefit obligations based on actuarial valuation. There was no further impact recognized during Q1FY27.

Manish Tandon, CEO and Managing Director, Zensar, said: “Q1FY27 marked a strong start to the year, we delivered 1.1% sequential quarter constant-currency revenue growth on the back of broad-based volume gains, despite a challenging macroeconomic environment. Banking and Financial Services remained our largest growth engine, contributing 48.8% of our revenue. Looking ahead, we remain committed to driving profitable growth, maintaining the strength of our balance sheet, and creating sustained value for our clients and shareholders through disciplined execution, operational resilience, and continued investment in future-ready capabilities.

Today, clients are looking for technology partners who can help translate their AI ambitions into measurable business outcomes. At Zensar, we bring together deep domain expertise, strong engineering capabilities, and AI-native solutions to help enterprises modernize faster, drive greater operational efficiency, and build more resilient digital businesses.”

Pulkit Bhandari, CFO, Zensar, said: “Our revenue for the quarter stood at USD 159.5 million, with a sequential growth of 1.1% in constant currency terms. EBITDA for the quarter stood at 14.6%, a sequential drop of 150bps. Profitability was largely impacted due to transition & early-stage execution for the large deal.

The industry is facing prolonged decision cycles, slower project mobilization, and continued restraint in discretionary technology investments. In this tough environment, our large deal win has strengthened our positioning, opening access to high-value, strategic programs and enabling us to compete more effectively in complex enterprise engagements.”

Result PDF

Result PDF
IT Consulting & Software company Zensar Technologies announced Q3FY26 results
  • In Q3FY26, the company posted revenue of USD 160.5 million, YoY growth of 2.2% in reported currency and 1.3% in constant currency. Sequentially, revenue declined by 1.4% in reported currency and 1.3% in constant currency. In Rs terms this performance reflects a YoY growth of 7.9% and sequential QoQ growth of 0.7%.
  • In Q3FY26, the company reported Gross Margin at 33.7% of revenue, sequential QoQ increase of 270 bps.
  • In Q3FY26, the company reported EBITDA at 17.4% of revenue, sequential QoQ increase of 200 bps.
  • In Q3FY26, the company registered orderbook of USD 180.2 million, sequential QoQ growth of 13.6%.
  • The company registered net cash and cash equivalents of USD 322.4 million at the end of Q3FY26.
  • The company reported DSO of 71 days at the end of Q3FY26, sequential QoQ improvement of 4 days.
  • Manufacturing and Consumer Services registered a sequential QoQ revenue growth of 3.2% and YoY decline of 2.7% in reported currency.
  • Banking and Financial Services registered a sequential QoQ revenue decline of 0.4% and YoY growth of 12.2% in reported currency.
  • Healthcare and Life Sciences registered a sequential QoQ revenue decline of 2.5% and YoY growth of 5.2% in reported currency.
  • Telecommunication, Media and Technology registered a sequential QoQ revenue decline of 8.8% and YoY decline of 11.6% in reported currency.
  • US region registered a sequential QoQ decline of 3.0% and YoY decline of 0.4% in reported currency.
  • Europe region registered a sequential QoQ growth of 1.2% and YoY growth of 6.1% in reported currency.
  • Africa region registered a sequential QoQ growth of 2.8% and YoY growth of 10.7% in reported currency.

Manish Tandon, CEO & Managing Director, Zensar, said: “This quarter, we delivered strong margin performance, a healthy order book, and our highest ever cash position, reflecting our disciplined execution and financial resilience. Our revenue stood at USD 160.5M, reflecting modest, yet resilient performance supported by healthy volume growth, driven predominantly from offshore. While the resulting mix shift, combined with typical seasonality and furlough-driven softness, moderated the pace of revenue momentum, our business fundamentals remain strong. Additionally, our Industryleading LTM attrition highlights the effectiveness of our people-first philosophy and culture that fosters long-term relationships.

We begin 2026 with a singular commitment: to lead as a truly AI-native technology services company, redefining the value we deliver. Guided by a strong execution framework, nearly 20% of this year’s orderbook is AI-Influenced, demonstrating the tangible value we deliver through our strategic investments across the entire AI stack, from experience, engineering, to engagement. “

Pulkit Bhandari, CFO, Zensar, said, “Our disciplined margin optimizing approach enabled us to deliver a robust 17.4% EBITDA and 13.9% PAT margin. With seasonal furloughs, Zensar reported revenue for Q3FY26 at USD 160.5M, a sequential degrowth of 1.4%. Our order book stood at USD 180.2 million for the current quarter. We continue to maintain strong fundamentals with cash & cash equivalents of USD 322.4 million and DSO of 71 days.

Macro environment and demand remain uncertain, with client budgets for CY26 reflecting delayed spending and increased vendor consolidation. AI-powered cost optimization solutions are emerging as key drivers in this landscape”

Result PDF

IT Consulting & Software company Zensar Technologies announced Q1FY26 results
  • Revenue: Rs 13,850 million, change 7.5% YoY.
  • EBITDA: Rs 2,106 million, change 7.4% YoY.
  • EBIT: Rs 1,875 million, change 6.3% YoY.
  • PAT: Rs 1,820  million, change 12.1% YoY.

Manish Tandon, CEO & Managing Director, Zensar, said: "We delivered a strong quarter with steady revenue growth, driven by growing traction in AI-led deals and impactful solution delivery. With our lowest attrition in two years, I’m proud of our people and the culture we've built. Our ongoing focus on reskilling and upskilling in next-gen tech has resulted in healthy utilization levels.

Best in class customer satisfaction score on the back of our Experience, Engineering, and Engagement approach reflects the relevance and strength of our offerings. Execution excellence remains our hallmark as we continue to drive value for clients.”

Pulkit Bhandari, CFO, Zensar, said: “We have achieved robust revenue of USD 162.0 million for this quarter translating into 1.9% growth in constant currency. EBITDA margins stood at 15.2% with PAT margin of 13.1%. We booked orders worth USD 172.0 million which is increase of 11.7% YoY. We have healthy cash & investment reserves of USD 315.7 million which underscores our financial stability and provides us with the flexibility to invest in growth opportunities.

Even in midst of political unrest and macro uncertainties, we are cautiously optimistic on our performance for the rest of the year, reliant on our core operational foundations. We strive to prioritize people and achieve outstanding client satisfaction”

Result PDF

IT Consulting & Software company Zensar Technologies announced Q4FY25 results
  • In Q4FY25, the company reported revenue of USD 156.8 million, sequential QoQ growth of 0.9% in constant currency and QoQ decline of 0.1% in reported currency.
  • In Q4FY25, Gross Margins stood at 30.3%, sequential growth of 20bps QoQ with an EBITDA% of 15.6%.
  • For the full year FY25, the company reported revenue of USD 624.5 million, yearly YoY growth of 5.1% in constant currency and 5.4% in reported currency.
  • Company reported net cash balance of USD 290.5 million.
  • US as a region grew by 0.3% sequential QoQ and by 6.5% YoY in constant currency.
  • Europe as a region grew by 2.5% in sequential QoQ and by 10.0% in YoY constant currency terms.
  • Africa as a region grew by 0.9% sequential QoQ but declined by 1.7% in YoY constant currency terms.
  • Banking and Financial Services reported a sequential QoQ revenue growth of 3.4% in constant currency.
  • Telecommunication, Media and Technology reported a sequential QoQ revenue growth of 1.7% in constant currency.
  • Manufacturing and Consumer Services reported a sequential QoQ revenue decline of 2.6% in constant currency.
  • Healthcare and Life Sciences reported a sequential QoQ revenue decline of 1.4% in constant currency.

Manish Tandon, CEO and Managing Director, Zensar, said: “We’re proud to report consistent growth across all geographies in constant currency, Zensar’s performance reflects the resilience and global relevance of our EEE value proposition. This quarter marks our highest-ever order book, driven by strong client confidence and strategic investments. Focused efforts in mining new accounts are yielding results, with significant traction in client acquisitions. Additionally, our improved attrition number highlights the success of our people-first approach and culture that values long-term relations.”

Pulkit Bhandari, CFO, Zensar, commenting on the Q4FY25 & FY25 performance, said: “Revenue for the quarter was USD 156.8M translating into 0.9% growth in constant currency with an EBITDA margin of 15.6%. For the year, revenue stood at USD 624.5M with constant currency growth of 5.1%. Continuing our momentum with sales effort, we booked orders worth USD 213.5 million this quarter. The quality of engagements is more strategic and long term which is a validation of our strategy.

We delivered a balanced performance on all operational and financial parameters. Revenue grew along with sustainable margins. With a strong focus on verticalization, deepening service line capabilities and investing in AI solutions, we believe Zensar is well poised to capture upcoming opportunities”

Result PDF

IT Consulting & Software company Zensar Technologies announced Q3FY25 results
  • In Q3FY25, the company reported revenue of USD 157.0 million, a quarterly YoY growth of 8.6% in reported currency and 7.5% in constant currency. This translates to a sequential QoQ growth of 0.5% in reported currency and 0.7% in constant currency.
  • In Q3FY25, the Gross Margin stood at 30.1% of revenues, representing a sequential QoQ improvement of 200 basis points.
  • Manufacturing and Consumer Services reported a quarterly YoY revenue growth of 15.2% and sequential QoQ revenue growth of 6.1% in reported currency.
  • Healthcare and Life Sciences reported a quarterly YoY revenue growth of 24.0% and sequential QoQ revenue growth of 3.2% in reported currency.
  • Banking and Financial Services reported a quarterly YoY revenue growth of 12.9% and sequential QoQ revenue decline of 1.4% in reported currency.
  • Telecommunication, Media and Technology reported a quarterly YoY revenue decline of 10.2% and sequential QoQ revenue decline of 3.7% in reported currency.

Manish Tandon, CEO and Managing Director, Zensar, said: “Our growth in this quarter reflects the resilience of our business and the dedication of our team amidst a quarter that is traditionally challenging for the industry. Our strategic business approach and focus on execution and AI translate positively into the company’s overall performance.

Our growing headcount reinforces our commitment towards talent and innovation. We continue to focus on growth and investing for the same. As we move forward, we continue our efforts to deliver value to all our stakeholders and stay true to our organizational values of being ‘ONE with the Client’”

Pulkit Bhandari, CFO, Zensar, commenting on the Q3FY25 performance, said: “Our execution and delivery excellence has led us to achieve best performance in Q3. Revenues for the quarter stood at USD 157.0 million, which grew by 70 bps sequentially in constant currency. We have clocked order book of USD 205.3 million this quarter showcasing our strong sales efforts. Our EBITDA improved by 20 bps to 15.6% despite seasonal furlough. Further, our DSO improved by 3 days to 68 days on account of healthy collections. With determined focus on customer satisfaction, execution, and cost optimization, we strive to continue our journey of sustaining margins while delivering on revenue growth”

Result PDF

IT Consulting & Software company Zensar Technologies announced Q2FY25 results
  • In Q2FY25, the company reported revenue of USD 156.2 million, sequential QoQ growth of 1.2% in reported currency. On a YoY basis, this translates to 4.0% growth in reported currency and 3.3% in constant currency.
  • In Q2FY25, the EBITDA stood at 15.4% of revenues, representing a sequential QoQ increase of 20 basis points.
  • Banking and Financial Services reported a sequential QoQ revenue growth of 4.2% and quarterly YoY revenue growth of 14.0% in reported currency.
  • Manufacturing and Consumer Services reported a sequential QoQ revenue growth of 2.8% and quarterly YoY revenue growth of 5.5% in reported currency.
  • Telecommunication, Media and Technology reported a sequential QoQ revenue decline of 8.6% and quarterly YoY revenue decline of 14.4% in reported currency.
  • Healthcare and Life Sciences reported a sequential QoQ revenue growth of 8.8% and quarterly YoY revenue growth of 13.3% in reported currency.

Manish Tandon, CEO and Managing Director, Zensar, said: “We delivered a rounded positive performance in Q2FY25, with sequential growth in majority of our portfolio. Our highest ever order book this quarter reflects the continued focus on client-centricity and commitment of our employees to drive value and innovations.

While pleased with our overall performance, we recognize that the market landscape remains dynamic and competitive. A disciplined approach and continuous investment in focus areas to support long-term growth will enable us to thrive. “

Pulkit Bhandari, CFO, Zensar, commenting on the Q2FY25 performance, said: “We have given annual salary increments across the organization whilst improving EBITDA margin by 20 basis points to 15.4%. Our Profit After Tax (PAT) for the quarter stood at 11.9%. On the back of strong collections, we have further improved our DSO by 1 day to 71 days which translated to healthy cash and cash equivalents of USD 255.0 million post pay-out for dividend and an acquisition.

With strong commitment towards customer satisfaction and innovation we strive to further improve Zensar’s performance”

Result PDF

IT Consulting & Software company Zensar Technologies announced Q1FY25 results:
  • In Q1FY25, the company reported revenue of USD 154.4 million, sequential QoQ growth of 4.2% in reported currency and 4.3% in constant currency. On a YoY basis this translates to 3.4% growth in reported currency
  • The company reported net cash of USD 280.9 million at the end of Q1FY25, QoQ growth of 7.3%
  • For the second consecutive quarters we have witnessed growth across all the verticals
  • Banking and Financial Services reported a sequential QoQ revenue growth of 6.8% in both reported and constant currency
  • Manufacturing and Consumer Services reported a sequential QoQ revenue growth of 2.4% in reported currency and 2.7% in constant currency
  • Telecommunication, Media and Technology reported a sequential QoQ revenue growth of 1.2% in both reported and constant currency
  • Healthcare and Life Sciences reported a sequential QoQ revenue growth of 6.9% in both reported and constant currency
  • US region reported a sequential QoQ revenue growth of 6.5% in reported currency and 6.6% in constant currency
  • On July 17, 2024, Zensar has entered into definitive agreement for acquisition of 100% stake in Bridge View Life Sciences, a Pennsylvania-based technology and consulting solutions company in the Life Sciences industry. This move reinforces our focus on the Healthcare and Life Sciences vertical

Manish Tandon, CEO and Managing Director, Zensar, said, “Our unwavering commitment to engineering excellence, customer experience, and client engagement helped us deliver strong results in Q1FY25. We recorded growth in overall company revenue driven by sequential growth across all our verticals.

Buoyed by our strong customer experience score and with the help of key strategic investments, we continue to deepen our engagement to drive greater value for our customers, stakeholders and employees alike.”

Further, commenting on the Q1FY25 performance, Manish Tandon said “Our disciplined approach on execution helped us to improve cash and cash equivalents to USD 280.9 million, QoQ addition of 19.2 million. Sequentially, we have improved our DSO by 1 day to 72 days. Our Order book stood at USD 154.0 million and PAT at 12.3% for the quarter

Result PDF

IT Consulting & Software company Zensar Technologies announced Q4FY24 & FY24 results:

Financial Highlights

:

  • In Q4FY24, the company reported revenue of USD 148.1 million, sequential QoQ growth of 2.4% in reported currency and 2.0% in constant currency.
  • For the full year FY24, the company reported services revenue of USD 591.3 million, yearly YoY growth of 1.0% in reported currency and 1.3% in constant currency.
  • In Q4FY24, EBITDA was at 16.5%, quarterly YoY increase of 200 bps and sequential QoQ decline of 70 bps.
  • In Q4FY24, PAT stood at 14.1%, a quarterly YoY increase of 430 bps and sequential QoQ increase of 70 bps.
  • The company reported net cash of USD 261.7 million at the end of Q4FY24, QoQ growth of 5.4%.
  • US region reported a sequential QoQ services revenue growth of 4.3% in reported currency and 4.2% in constant currency.
  • Europe region reported a sequential QoQ services revenue decline of 1.2% in reported currency and 3.1% in constant currency.
  • South Africa reported a sequential QoQ services revenue decline of 2.3% in reported currency and 2.0% in constant currency.
  • Banking and Financial Services reported a sequential QoQ services revenue growth of 2.5% in reported currency and 2.0% in constant currency.
  • Manufacturing and Consumer Services reported a sequential QoQ service revenue growth of 3.0% in reported currency and 2.3% in constant currency.
  • Hitech reported a sequential QoQ services revenue growth of 0.8% in reported currency and 0.7% in constant currency.
  • Healthcare and Life Sciences reported a sequential QoQ services revenue growth of 3.6% in reported currency and 3.5% in constant currency.

Manish Tandon, CEO and Managing Director, Zensar, said, “Sequential growth across all our verticals is a testimony of our robust strategy and our bias towards execution excellence. Our expertise in managing digital products, experiences, and engagement for our clients makes us a preferred partner of choice. We moved strength to strength in our client centricity journey by achieving our best customer experience score ever in FY24.

We expanded our market reach with the help of our diversified service offerings. We continue to focus on client and employee satisfaction as our primary pillars of success. 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.”

Sachin Zute, CFO, Zensar, commenting on the FY24 performance, said, “We have achieved strong financial results for FY’24 owing to our focused efforts towards operational excellence & margin improvement tracks which helped us improve our EBITDA by 640 bps to 17.8% and PAT by 690 bps to 13.6% on YoY basis. Our cash stood at USD 261.7M and we further improved our DSO to 73 days at the end of FY’24. We continue to have strong momentum in our order book which grew by 22% YOY and stood at USD 698M for the year.

For Q4FY24, our reported revenue is USD 148.1 million growth of 2.4% sequentially and 2.0% in constant currency. EBITDA margin for Q4 stood at 16.5% which is above our guided range.”

Result PDF

IT Consulting and Software company Zensar Technologies announced Q2FY24 results:

Revenue and Financial Performance:
- In Q2FY24, Zensar reported revenue of USD 150.2M, a sequential QoQ revenue growth of 0.6% in reported currency and 0.2% in constant currency.
- EBITDA was at 18.6% and PAT stood at 14.0% of revenues.
- The company reported net cash of USD 227.1M at the end of Q2FY24, with a quarterly YoY growth of 40.1%.

Geographical Performance:
- Europe region reported a sequential QoQ growth of 11.3% and a quarterly YoY growth of 12.8% in constant currency.
- South Africa reported sequential QoQ growth of 9.1% and a quarterly YoY growth of 18.8% in constant currency.
- The US region reported a sequential QoQ decline of 4.3% and a quarterly YoY decline of 10.7% in constant currency.

Vertical Performance:
- Banking and Financial Services reported a sequential QoQ revenue growth of 3.1% and a quarterly YoY growth of 7.8% in constant currency.
- Manufacturing and Consumer Services reported a sequential QoQ growth of 6.7% and a quarterly YoY decline of 0.7% in constant currency.
- Hitech reported a sequential QoQ decline of 8.0% and a quarterly YoY decline of 16.9% in constant currency.
- Healthcare and Life Sciences reported a sequential QoQ decline of 1.5% and a quarterly YoY decline of 4.7% in constant currency.

Manish Tandon, CEO and Managing Director, Zensar, said, "Our 'Experience-Engineering-Engagement' proposition continues to deliver value to the customers. While we saw some slowdown in certain areas of the business, we also experienced good momentum in a few of our geographies and verticals. This demonstrates the resilience of our business model and the strength of our customer relationships.

Our core service lines are resonating well and are helping clients to achieve competitive differentiation. We are accelerating our Talent Transformation journey to enhance the skills of our employees and strengthen our diverse talent pool."

Sachin Zute, CFO, Zensar, commenting on the Q2FY24 performance, said, "Our Profit After Tax (PAT) stood at 14.0% for the quarter, increased by a healthy 130 basis points QoQ and 940 basis points YoY. We have given annual wage hikes across the company effective July 1, while also maintaining the margin in the mid-teens because of multiple margin improvement levers and disciplined budgetary control across the organization. The company reported net cash of USD 227.1M at the end of the quarter, with YoY growth of 40.1%. As we step into the second half of this fiscal year, we have a healthy order book. We continue to stay focused on execution, innovation, and cost optimization to further maintain Zensar's financial performance achieved in the last few quarters.

 

 

Result PDF

IT Consulting & Software company Zensar Technologies announced Q1FY24 results:

  • In Q1FY24, the company reported services revenue of USD 149.2 million, a sequential QoQ growth of 2.3% and constant currency 2.4%.
  • In Q1FY24, the company reported total revenue of USD 149.3 million, sequential QoQ growth of 1.3% both in reported and constant currency term.
  • In Q1FY24, the EDITDA stood at 18.7% and the PAT stood at 12.7% of revenues.
  • The company reported net cash of USD 233.8 million at the end of Q1FY24, with a QoQ growth of USD 32.3 million and YoY growth of 42.9%.
  • Europe region registered a sequential QoQ services revenue growth of 6.0% in constant currency and a quarterly YoY services revenue growth of 3.4% in constant currency.
  • US region registered a sequential QoQ services revenue growth of 1.3% in constant currency and a quarterly YoY services revenue decline of 0.2% in constant currency.
  • South Africa registered a sequential QoQ services revenue growth of 3.4% in constant currency and a quarterly YoY services revenue growth of 19.6% in constant currency.
  • Banking, Financial Services, and Insurance reported sequential QoQ services revenue growth of 4.0% in constant currency and a quarterly YoY services revenue growth of 13.2% in constant currency.
  • Hi-Tech and Emerging registered a sequential QoQ services revenue decline of 2.6% in constant currency and a quarterly YoY services revenue decline of 4.0% in constant currency.
  • Manufacturing and Consumer Services registered a sequential QoQ services revenue growth of 6.2% in constant currency and YoY services revenue decline of 1.3% in constant currency.
  • Headcount as of June 30, 2023, stood at 10,540.

Manish Tandon, CEO and Managing Director, Zensar Technologies, said, “In Q1FY24, we saw good growth in revenue and improved margins despite the macro challenges within the industry. Our quarterly services revenue stood at USD 149.2 million, a sequential QoQ growth of 2.4% in constant currency. Our quarterly revenues are at USD 149.3 million, with a sequential QoQ growth of 1.3% in both reported and constant currency terms. In line with our stated strategy, we continue to defocus on pass through revenues. Our EBITDA increased by 420 basis points to 18.7%. We have witnessed good improvement in margins, and a portion of these are being reinvested into the business. As one of our core principles, we continue to drive client-centricity across the organization. We remain committed to allocating resources for the skill enhancement of our employees and strengthening our diverse pool of talent. Through these strategic initiatives, we aim to drive client success and foster sustainable business expansion.”

Sachin Zute, CFO, Zensar Technologies, commenting on the Q1FY24 performance, said, “Our PAT stood at 12.7% for the quarter, a sequential QoQ increase of 290 basis points and YoY increase of 660 basis points. We saw an increase in our cash and cash equivalents which stood at USD 233.8 million, a QoQ increase of USD 32.3 million and quarterly YoY growth of 42.9%. The DSO for the quarter continues to be healthy and remained at 74 days. Our unwavering commitment to enhancing operational improvements has helped us bolster the financial performance of Zensar.”

 

Result PDF

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