Business

Zensar Technologies Q2 Results Review

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Zensar Technologies Ltd.’s Q2 FY23 performance below our expectations on the revenue front. Revenue for the quarter stood at Rs 1,234 crore, up 2.6% QoQ and 17.5% YoY. However, the company’s operating margins reported a de-growth of 120 basis points and stood at 10.9%.

Net income de-grew 7.1% QoQ and stood at Rs 12.8 crore. Zensar has reported tepid recovery from its existing clients and its new clients’ addition helped to gain traction. Total deal wins for the quarter remained moderated at $155 million.

Zensar continues to build competency and scale in the focused strategic growth opportunities such as experience services, advanced engineering, and data analytics in addition to core services.

Zensar management expects to report strong revenue growth momentum in the next three-seven quarters owing to better deal pipeline and execution strategies. Its clients continue to see it as a reliable and future-driven partner as it brings in world-class processes and learnings.

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