Q2FY23 Quarterly Result Announced for Zensar Technologies Ltd.
Zensar Technologies announced Q2FY23 results: In Q2FY23, the company reported revenue of $155 million, sequential QoQ growth of 1.6%, and quarterly YoY growth of 14.4% in constant currency In Q2FY23, the EBITDA was at 8.5% of revenues and the PAT stood at 4.6% of revenues The company reported net cash of $162.1M at the end of Q2FY23 The US region posted sequential QoQ growth of 0.4% and quarterly YoY growth of 11.1% The Europe region posted sequential QoQ growth of 1.7% and quarterly YoY growth of 25.9% in constant currency South Africa posted sequential QoQ growth of 9.1% and quarterly YoY growth of 16.4% in constant currency Banking, Financial Services, and Insurance (BFSI) registered sequential QoQ growth of 6.1% and quarterly YoY growth of 33.8% in constant currency Hi-Tech and Manufacturing (HTM) and Emerging registered sequential QoQ growth of 0.1% and quarterly YoY growth of 6.5% in constant currency Consumer Services registered sequential QoQ decline of 2.5% and quarterly YoY growth of 5% in constant currency Ajay S. Bhutoria, CEO and Managing Director, Zensar Technologies, said, "In Q2FY23, we reported quarterly revenues of $155M, sequential QoQ growth of 1:6%, and quarterly YoY growth of 14.4% in constant currency. The investments made in the past few quarters have led us to win deals of $141.8M, despite challenging market conditions in some of our verticals. Our key business services including Advanced Engineering Services (AES), Data Engineering Services, and Platform Services, have consistently expanded with new deal wins, addition of new logos, and revenue growth. Our BFSI vertical continues its growth trajectory, reporting sequential QoQ growth of 6.1% and quarterly YoY growth of 33.8% in constant currency. South Africa has performed distinctly in the past quarter, posting sequential QoQ growth of 9.1% and quarterly YoY growth of 16.4% in constant currency. Due to a sluggish macro-economic environment, we did experience softness in our Hi-Tech and Manufacturing and Consumer Services businesses." He further stated, "Our focus on training and skilling initiatives has enabled our teams and freshers to hone their capabilities aimed at accelerating value for our clients." Result PDF21-10-2022