SAN JOSE, Calif., Oct. 18, 2016 (GLOBE NEWSWIRE) -- Zensar Technologies, a leading digital solutions and technology services company that specializes in partnering with global organizations across industries on their Digital Transformation journey, announced its audited consolidated financial results for the Quarter ending September 30, 2016, of the fiscal year 2016-2017.
Financial Highlights: The Company reported quarter on quarter revenue growth of 2.2% in constant currency at close of Q2 FY17 and 1.8% from 114.0 USD M to 116.0 USD M in USD terms. The EBITDA for the quarter grew by 4.1% from 15.9 USD M to 16.6 USD M. Digital Services continued its growth momentum and contributed 27.8% of Q2 FY16-17 revenue.
Sandeep Kishore, Chief Executive Officer and Managing Director, Zensar Technologies said, “This Quarter has been a good one for new order booking and we continue to have a robust pipeline across all service lines. We have signed large deals with marquee clients in the Digital and IMS Cloud businesses. Innovative new solutions that we launched in the areas of automation and robotics, aligned with our clients’ business needs, have begun to show traction. At Zensar, the digital initiatives launched earlier this year have begun to show a ‘Return on DigitalTM’ helping us pass on the benefits to our clients.”
S. Balasubramaniam, Chief Financial Officer, Zensar Technologies said, “Zensar’s focus on its top 20 clients, both in terms of penetration through multi-service and digital, have begun to show results in terms of revenue and profitability. This along with the Company’s initiatives around operational and financial efficiencies have led to our EBITDA increasing to 14.3%.”
Market Leadership: Digital, eCommerce, IMS and Oracle are key levers of growth for Zensar, and significant developments have been made in capabilities, partnerships, client acquisition and new services being taken to market.
Corporate Excellence
- Zensar Listed in Gartner Report, Hybrid IT Infrastructure Management and Cloud Migrations: Top Providers' Strengths and Weaknesses, September 29, 2016
- Zensar Listed in Gartner Report, Competitive Landscape: Digital Business Consulting Services, September 29, 2016
- Zensar mentioned in Gartner’s Market Guide for Digital Business Consulting Services, July 6, 2016
- Zensar Technologies enables South Africa’s largest online retail store, NetFlorist to enhance customer shopping experience
- Zensar partners with The Foschini Group (TFG) in Creating Digital and Mobile stores
- Zensar implemented a Digital Factory solution for India’s leading tire manufacturer, with presence in global markets
- Zensar launched the new hosted order management solution powered by IBM Sterling Commerce, Oracle and Rapid Order Management Platform (ROMP)
- Zensar launched a new in-store customer service automation chatbot – called ZBot
- The Company participated at Oracle Open World 2016 in San Francisco and presented many new innovative solution demos
Customer Wins: Digital Led Wins
- A large deal for a Digital Commerce launch of a leading kids store in the US for toys, video games, dolls, action figures, learning games, building blocks and more
- Oracle Commerce consulting deal signed in the UK for the third largest home improvement retailer globally
- Oracle Commerce implementation for a US-based manufacturer of laboratory instruments
- SAP S/4HANA migration for a leading Indian API manufacturer and supplier of Trimethoprim IP/BP to global pharmaceutical companies
- A multi-million dollar managed e-commerce support deal for a Dutch design company that makes strollers for infants and toddlers
- E-Commerce support deal for one of the leading distributors of replacement automotive parts and glass products in Southern Africa
Customer Wins: Other Service Wins
- A multi-million dollar digital transformation large deal with one of the largest British motoring associations and provider of insurance, financial and other motoring in the UK
- A large multi-service deal in the UK for a global financial services corporation with the principal business of operating payment processing network
- A large deal for a vendor optimization initiative for the largest networking company globally which designs, manufactures and sells networking equipment worldwide
- A multi-million dollar SharePoint Roll out and Infrastructure Support deal in Europe for an agency dealing with labor issues, particularly international labor standards, social protection and work opportunities for all
- A next generation fleet management system deal in South Africa for one the largest global Fleet Management companies
- Oracle EBS deal, one of the largest signed in the US, for one of the largest international retailing groups that operates several chains of retail brands in the consumer durables sector
- ZenLife Implementation in partnership with SAP for one of the top providers of high-quality and cost-effective generic drugs and medicines in the US
- Upgrade to Oracle R12 as Oracle's preferred partner for One of the top Retailer in the US for Plus Size Clothing
- SAP support services deal for a leading player in the UK’s oil & chemical industry
- A remote infrastructure management deal for one of the largest paper and plastic packaging businesses in Southern Africa
- Oracle EBS implementation for a leading American home-furnishings company
Financial Highlights For Q2 FY16-17
For full financial highlights, access the Zensar media page: http://www.zensar.com/about-us/media/press-release/zensar-reports-22-constant-currency-sequential-growth-q2-fy-16-17
About Zensar (www.zensar.com)
Zensar is a leading digital solutions and technology services company that specializes in partnering with global organizations across industries on their Digital Transformation journey. A technology partner of choice, backed by strong track-record of innovation; credible investment in Digital solutions; assertion of commitment to client’s success, Zensar’s comprehensive range of digital and technology services and solutions enable its customers to achieve new thresholds of business performance. Zensar, with its experience in delivering excellence and superior client satisfaction through myriad technology solutions, is uniquely positioned to help them surpass challenges around running their existing business most efficiently, helping in their legacy transformation, and planning for business expansion and growth through innovative and digital ways.
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About RPG Enterprises (www.rpggroup.com)
Mumbai headquartered RPG Enterprises is one of India's largest industrial conglomerates. With over 15 companies in its fold, the group has a strong presence across core business sectors such as Infrastructure, Tyre, IT and Specialty. Established in 1979, RPG Enterprises is one of India’s fastest growing business groups with a turnover in excess of Rs 21,000 crore.
Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorised use of our intellectual property and general economic conditions affecting our industry. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.