Monday, 25 April 2016

Zensar Tech Shares plunge Nearly 8% on Disappointing Q4 profit

Shares of software services firm Zensar Technologies today plunged nearly 8 percent after the company reported decline in consolidated net profit for the March quarter. 

The scrip of the mid-sized IT firm dipped by 7.77 percent to Rs 919 at BSE. On NSE, it tumbled 7.84 percent to Rs 920.

Zensar Tech on Friday reported a marginal dip in consolidated net profit at Rs 70.67 crore for the March quarter, weighed down by lower revenue from its maintenance services business. 

The Pune-headquartered firm had posted a net profit of Rs 71.80 crore in the year-ago period. Its consolidated revenue rose by 12.4 percent to Rs 751.39 crore in the January-March quarter last fiscal from Rs 668.09 crore in the same quarter of 2014-15. 

For the entire 2015-16 fiscal, Zensar reported a net profit of Rs 311.90 crore and revenue at Rs 2,978.04 crore.

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