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Business News/ Companies / Company Results/  Zensar Tech Q1 Results: Net profit rises 148.8 crore
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Zensar Tech Q1 Results: Net profit rises ₹148.8 crore

Earlier in the Q1 FY 2023-24, the firm registered a net profit of only ₹54.9 crore.

Representative image. Photo: MintPremium
Representative image. Photo: Mint

Zensar Technologies announced its April-June quarter results for fiscal 2023-24, reporting a net profit of 148.8 crore compared to 54.9 crore in the corresponding period last year, its said in a stock regulatory filing on 20 July.

Earlier in the Q1 FY 2023-24, the firm registered a net profit of only 54.9 crore.  In the previous quarter, Zensar had recorded a net profit of 151. crore, while in the FY 2022-23, it earned a total of 308.4 crore. 

Zensar's EBIDTA stood at 18.7 percent for Q1FY24, while the PAT stood at 12.7 percent of revenues. The firm's headcount as of 30 June stood at 10,540.

The company reported a net cash of $233.8 million at the end of Q1FY24, with a QoQ growth of $32.3 million and YoY growth of 42.9 percent.

"In Q1FY24, we saw a good growth in revenue and improved margins despite the macro challenges within the industry. Our quarterly services revenue stood at $149 million, a sequential QoQ growth of 2.4% in constant currency terms. In line with our stated strategy, we continue to defocus on pass good inprovement revenues. Our EBIDTA increased by 420 basis points to 18.7%," said Zensar Technologies' CEO and MD Manish Tandon.

Zensar Technologies closed trading in BSE on Thursday at 461.20, up 3.50 or 0.76 percent as compared to the previous close of Rs. 457.70. 

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Saurav Mukherjee
A business media enthusiast...believe to listen more, than just blabbering like others.
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Published: 20 Jul 2023, 04:29 PM IST
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