Zensar Technologies Q4 earnings: Net profit rises 45%, board declares final dividend

IT firm Zensar Technologies reported a 1.4% rise in revenue in the last quarter. Revenue climbed to Rs 1229 crore from Rs 1212 crore in the year ago period. Net profit rose 45.38% to Rs 173.3 crore in Q4 from Rs 119.2 crore in the year-ago period. The results were announced after market hours. The stock ended 1.04% lower at Rs 575.20 before the earnings. 

Earnings per share of the IT firm rose to Rs 7.65 in Q4 against Rs 5.27 in Q4 of FY23. Market cap of the IT and software services firm fell to Rs 13,035 crore. Total 0.51 lakh shares of the firm changed hands amounting to a turnover of Rs 2.92 crore on BSE.  On an annual basis, revenue from operations rose 1.09% to Rs 4901 crore in FY24 against Rs 4848.2 crore in FY23.  Net profit zoomed 103% to Rs 665 crore in the last fiscal against Rs 327.6 crore in FY23. 

The board of the firm recommended a final dividend of Rs 7 each (350%) per equity share of Rs 2 each, for FY 2023-24, subject to approval by members at the ensuing Annual General Meeting. 

Manish Tandon, CEO and Managing Director, Zensar, said, “Sequential growth across all our verticals is a testimony of our robust strategy and our bias towards execution excellence. Our expertise in managing digital products, experiences, and engagement for our clients makes us a preferred partner of choice. We moved strength to strength in our client centricity journey by achieving our best customer experience score ever in FY24. We expanded our market reach with the help of our diversified service offerings. We continue to focus on client and employee satisfaction as our primary pillars of success. Our results give us the confidence to continue strategic investments in our service lines and enhance our capabilities in new age technologies such as Gen AI to foster innovation and deliver growth.”

The company also said Sachin Zute has today tendered resignation from the post of Chief Financial Officer of the company with effcet from close of business hours on May 3, 2024, for personal reasons as stated in his resignation letter. 

"The company is in the process of identifying/hiring a candidate for the said position and shall inform
the Stock Exchanges once the vacancy is filled up," added the IT firm.