Zensar Tech up 6.5%

Zensar Technologies is among the top gainers on the BSE, rising almost 6.5% to an intraday high at Rs.235.50 on the back of a robust 5.5x surge in volumes.

The stock has reacted positively to the encouraging earnings its posted for December quarter. Though its revenue was down 3% (QoQ) at Rs.1198 crore, its net profit ended 35% higher at Rs.76 crore. Overall a reduction in expenses is what led to the boost in profitability.

EBITDA jumped up 28% at Rs.135 crore while margins rose from 4.55% to 7.11%.

EBIT was at Rs.85 crore, up 51%.

In terms of region wise growth, USA declined 8%, Europe grew 2% while South Africa was flat.

In terms of services, BFSI degrew 1.3%, Hi-Tech and Manufacturing and Emerging fell 9% and Consumer Services too fell by 2.3%. Across the board, almost all showed a decline.