Zensar Technologies’ consolidated net profits have more than doubled to Rs 54.56 crore for the quarter ending June 2012 compared to a year-ago period. This was because of the overall growth in business during the year.
Revenues for the listed arm of Mr Harsh Goenka's RPG group increased by 36.2 per cent to Rs 546.93 crore in the June 2012 quarter (Rs 401.30 crore).
On a sequential basis, revenues in Zensar’s application management business grew to Rs 355.36 crore from Rs 300.58 crore (in the March 2012 quarter). However, revenues in the infrastructure management services business fell to Rs 188.93 crore from Rs 193.33 crore. This is because some contracts got pushed into the next quarter, the company said.
Revenue target
Zensar Technologies aims to touch revenues of $1 billion by 2016. “We are aiming for about $400 million revenues from the manufacturing services vertical, another $400 million from infrastructure management services and about $200-250 million from the banking, financial services and insurance, healthcare, retail business,” said Dr Ganesh Natarajan, Vice-Chairman and MD, Zensar. Growth will be through acquisitions as well as organic expansion. Zensar is planning acquisitions in the infrastructure management and security services space. “These will pan out in the next 12 to 18 months,” said Dr Natarajan.
Akibia (subsidiary of PSI Holdings), which Zensar acquired in November 2010, contributed 30 per cent to the company’s revenue during the quarter.
Zensar won 20 new contracts across verticals, during the quarter. The stock closed at Rs 274.95, up 2.42 per cent from its previous close on the BSE.