Zensar delivers outstanding results in Q2

Online, October 29, 2009 (Newswire.com) - Zensar Technologies, the leading global IT and BPO services provider has reported excellent profit growth for the quarter ended 30th September, 2009.
Financial Highlights

Consolidated Results for the quarter ended 30th September, 2009

* Net Income was Rs 37.90 Cr showing a growth of 104 % q-o-q and 27% sequentially
* Revenue was Rs 251.17 Cr, a growth of 10 % sequentially and 8% q-o-q
* Earnings per share stands at Rs 15.81 this quarter

In the second quarter Zensar has added a total of 24 new customers to its portfolio.

Dr. Ganesh Natarajan, Vice Chairman and MD, Zensar said, "The Company has delivered excellent results and continues to make good progress in all its business units and markets. A strategy of risk mitigation across geographies, vertical domains and service lines that we have pursued over the years has enabled us to deliver this. We are confident Zensar's success will continue in the future as well."

Emerging markets of India, South Africa and continental Europe continue to be drivers of new business for the Company and with a number of customers ready now to move offshore which is a significant trend for the Company. Amongst the new wins in these territories are, a large total financial services provider; a leading integrator of competitive, innovative and practical business solutions based on information and communication; an independent private London bank, providing banking and investment services; provider of talent management, e-recruitment and payroll software solutions to corporate companies across the globe.

New product launches include the launch the Procurement Platform for our BPO Services, which helps customers realize the potential of technology and outsourcing without having to incur capital expenditure and pay only for the number of transactions managed. The launch of ZenAutoPro, Zensar's tool for automated code generation to advance the script development process and to save the overall automation time as compared to traditional Test Automation is yet another outcome of our focus on constant innovation.

In addition to growth in the areas of Package Implementation, Testing and Infrastructure Management, Zensar's new Impact Sourcing service for process and technology transformation with guaranteed results has received an excellent response from the market. In terms of verticals, the Company has launched the media and education vertical for the domestic market and these are increasingly seeing visible traction.

Zensar CFO S. Balasubramaniam said "We had committed to cross Rs. 100 crores PAT this year and we are well on our way to exceed this number and build a solid foundation for growth in the coming years.".

Business Update:

• The Company has been awarded the Outstanding Supplier Partnership Award for 2009 by Danaher Test and Measurement Platform for outstanding commitment to the relationship.

• The Company has hired 300 new recruits in the first six months, of which 95% are billable. The Company had 4815 employees as on 30th September 2009 and retention has been phenomenal at 96 % - an Industry benchmark

• The company has signed a multi-million dollar deal with Jetstar, a low cost airline arm of airline major Qantas for multiple cost optimisation services.

• Won a million dollar deal in the insurance space in US and a number of new marquee accounts in Europe and Asia