Zensar Technologies Q3FY22 profit after tax drops by 7.8% to Rs 910m

Zensar Technologies Limited has reported a profit after tax (PAT) of INR 910 million ($12.1 million) for the third quarter of the fiscal year 2022 (Q3FY22), a decrease of 7.8% compared to INR 987 million ($13.4 million) in the same quarter of the previous fiscal year.

The revenue of the Indian software and services company in the reported quarter is INR 11,025 million ($147.1 million), an increase of 21.6% compared to INR 9,344 million ($125 million) in Q3FY21.

Zensar Technologies, which is a subsidiary of the RPG Group, reported net cash of $168 million in Q3FY22.

On a quarterly year-over-year (YoY) basis, the Pune-based company’s revenue in the US region registered a growth of 20.8%, the Europe region saw growth of 23.7%, while the South Africa region had growth of 8.3%.

Zensar Technologies’ banking vertical had a quarterly YoY growth of 76.5%. Its insurance vertical had a quarterly YoY growth of 8.9%, while the consumer services vertical and the Hi-Tech and Manufacturing vertical had quarterly YoY growth of 26% and 7.1%, respectively.

Ajay S. Bhutoria — CEO and Managing Director of Zensar Technologies said: “Our revenue growth of 19.8% quarterly YoY reinforces the value our clients place on our services.

“Our efforts in the Banking vertical are bearing fruit with a 76.5% quarterly YoY growth. Similarly, our Consumer Services business grew by 26% YoY during the same quarter. These outcomes are the result of initiatives launched in the first half of the year and include the integration of M3bi into our overall strategy.”