Zensar Technologies Q2FY24 financial results revealed with varied regional growth

Zensar Technologies, recognized for its expertise in experience engineering and tech solutions, has made public its Q2FY24 consolidated financial outcomes:

• The company registered a revenue of $150.2M, noting a modest sequential growth of 0.6% in reported currency.
• EBITDA for the quarter was marked at 18.6%, with Profit After Tax (PAT) accounting for 14.0% of the revenues.
• A robust net cash figure of $227.1M was reported at Q2’s conclusion, reflecting a remarkable 40.1% YoY growth.

Regional and Sector Growth Dynamics

In a regional performance breakdown:

• Europe exhibited an 11.3% sequential QoQ growth, with a 12.8% quarterly YoY rise in constant currency.
• South Africa displayed a 9.1% sequential QoQ and 18.8% quarterly YoY augmentation in constant currency.
• The US region, however, experienced a QoQ dip of 4.3% and a 10.7% YoY decrease in constant currency.

Diving into sector-specific dynamics:

• Banking and Financial Services posted a 3.1% sequential QoQ and 7.8% quarterly YoY expansion in constant currency.
• Manufacturing and Consumer Services witnessed a 6.7% sequential QoQ surge but a 0.7% quarterly YoY dip in constant currency.
• Both Hitech, and Healthcare and Life Sciences sectors recorded declines across sequential QoQ and quarterly YoY metrics.

Manish Tandon, Zensar’s CEO, articulated, “Our “Experience-Engineering-Engagement” proposition continues to deliver value… This demonstrates the resilience of our business model and the strength of our customer relationships. Our core service lines are resonating well…”

CFO, Sachin Zute, provided added context, “Our Profit After Tax (PAT) stood at 14.0% for the quarter, increased by a healthy 130 basis points QoQ and 940 basis points YoY… As we step into the second half of this fiscal year, we have a healthy order book. We continue to stay focused on execution, innovation, and cost optimization…”