Zensar Technologies shares zoom 9% on Q4 earnings, dividend announcement

Shares of IT firm Zensar Technologies rose over 9% in early deals today after the firm reported its Q4 earnings. Zensar Technologies stock gained 8.83% to Rs 626 against the previous close of Rs 575.20 on BSE. Market cap of the firm climbed to Rs 13,960 crore.   

It posted 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.

With today's rally, Zensar Technologies stock has risen 125% in a year. The stock has delivered just 1.55% returns in 2024.  Total 0.64 lakh shares changed hands amounting to a turnover of Rs  3.80 crore on BSE. Zensar Technologies stock hit a 52-week low of Rs 270.40 on December 27, 2023 and a 52 week high of Rs 645.65 on April 8, 2024.   

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.

In terms of technicals, the relative strength index (RSI) of Zensar Technologies stands at 44.5, signaling it's trading neither in the overbought nor in the oversold zone. Zensar Technologies stock has a one-year beta of 0.8, indicating high volatility during the period. Zensar Technologies shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.    

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.”