Zensar wins four-year contract from San Diego City

IT major Zensar Technologies has bagged a multi-year, multi-million dollar contract from the City of San Diego, US.

The contract is for the management of the city's network services. Zensar will provide efficient technology services that will update the city existing infrastructure and enhance the security of the network. The contract value is approximately US$ 79 million. The four-year contract has the option of extension for two additional two-year terms.

In the recently reported quarter, Zensar registered QoQ revenue growth of 3.4 per cent in Q3FY18 from Rs. 318.46 crore to Rs. 322.86 crore. The net profit for the quarter dipped 26 per cent from Rs. 38.30 crore to Rs. 61.55 crore.

Earlier in March, the company announced that it would acquire a US-based firm Cynosure Inc, which caters to the insurance segment.

On Wednesday, the stock of Zensar opened at Rs. 930.20. At 14:15 hours, the stock was trading at Rs. 943.00 per share, up by Rs. 41.55 and 4.61 per cent, while the BSE Sensex was at 33,062.86, down by 307.77 or 0.92 per cent.