Zensar Technologies reports 31% rise in Q1 profit, stock down

IT firm Zensar Technologies reported a 31% rise in consolidated profit for the quarter ended June 2023.  Profit rose to Rs 156.2 crore for the June 2023 quarter against Rs 119.2 crore profit  in the March 2023 quarter. On a year-on year basis, the IT firm reported a 108% rise in profit from Rs 75.1 crore in the June 2022 quarter.

Revenue in the June 2023 quarter rose to Rs 1227.2 crore against Rs 1212.6 crore in the March quarter of 2023. Earnings per share (EPS) rose to Rs  6.90 in Q1 against Rs 5.27 in the March 2023 quarter.   

Meanwhile, shares of Zensar Technologies were trading 2% lower at Rs 448.90 against the previous close of Rs 457.70 on BSE. The stock has gained 110% in 2023 and risen 76% in a year. Zensar Technologies shares have gained 17.29% in a month. 

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 30% to Rs 210.20 crore in the June quarter against Rs 161.60 in the March 2023 quarter. On a year-on-year basis, EBITDA zoomed 106.08% from Rs 102 crore in the June 2022 quarter.

Operating profit zoomed 31% to Rs 230.10 crore in Q1 against Rs 175.80 crore profit in the March 2023 quarter. Operating profit rose 106% from Rs 136.10 crore in the June 2022 quarter. 
 

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