Zensar Technologies reports 4% y/y revenue growth
Indian headquartered technology firm Zensar Technologies reported a mixed second quarter with net profit dipping 1.3 per cent in the three months to September while revenue edged higher. CNBC Africa is joined by Manish Tandon, CEO & MD, Zensar Technologies.
Tue, 22 Oct 2024 15:12:42 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Zensar Technologies reported a mixed second quarter with a slight decline in net profit but revenue growth.
- Despite challenges such as furloughs and salary hikes, the company achieved commendable revenue growth and improved EBITDA margins.
- The highlight was the record-high order book of $201.8 million, reflecting strong demand for Zensar's services.
Zensar Technologies, a technology firm headquartered in India but with a strong presence in South Africa, recently reported a mixed second quarter financial performance. The company's net profit saw a slight decline of 1.3 per cent in the three months to December, while revenue showed growth. Manish Tandon, CEO & MD of Zensar, discussed the results in an interview with CNBC Africa, highlighting the challenges faced and the strategies employed to drive growth. Tandon emphasized the importance of the South African market for Zensar, noting the trust clients have placed in the company. Despite the anticipated difficulties in the quarter, including furloughs in the TMT sector and salary hikes for employees globally, Zensar managed to achieve a commendable revenue growth of 1.2% sequentially and over 4% year-over-year. Tandon also pointed out that the EBITDA margins improved from 15.2% to 15.4%, showcasing the company's operational efficiency. The highlight of the quarter was the record-high order book of $201.8 million, indicating strong demand for Zensar's services.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.
