BackZensar 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.
PremiumZensar 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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