Zensar Technologies has announced its audited consolidated financial results for its third Quarter ending December 31, 2020 of the fiscal year 2020-2021.
The company reported revenue at $122.8 Mn, a decline of 2.4% QoQ in USD terms. Africa and Europe regions reported a growth of 11.6% QoQ and 6.3% QoQ respectively
Ajay S. Bhutoria, Chief Executive Officer and Managing Director, Zensar Technologies said, “Our PAT has increased by 13.3% QoQ in USD terms underscoring our focus on world-class execution and operational excellence. Some of the softness in our US Hi-tech and Insurance business has been offset by healthy growth in EU and South Africa as well as our Consumer Services business. While we remain alert of current and future headwinds, we are excited with performance of our Digital business.”
Adding further he stated, “Digital Foundation Services, our visionary service line helping customers build robust and secure cloud-first infrastructure to power their digital transformation initiatives, has benefited from our consistent investment and has grown by 6.0% on YoY basis. At Zensar, we have always treasured our long-standing customer relationships, and are very encouraged by our mutual commitment to work together during times of uncertainty bolstered by our ability to deliver exceptional customer value.”
Navneet Khandelwal, Chief Financial Officer, Zensar Technologies said, “Our strategic focus on improving our cash management position has shown significant results in this quarter as we are now in a strong cash position, our highest ever. Additionally, we have become a zero-debt company, which enables us to pivot our initiatives on sustainable business growth. Our PAT has increased, both on QoQ and YoY basis and our DSO for Q3 is 73 days which is an improvement of 20 days on a YoY basis.”
Zensar is a digital solutions and technology services company that specialises in partnering with global organisations across industries on their Digital Transformation journey.
Zensar claims that it’s comprehensive range of digital and technology services and solutions enable its customers to achieve new thresholds of business performance.
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