Quarterly results: This midcap IT company surges 10 per cent on robust Q4 earnings! Do you own it?
The EBITDA stood at Rs 175 crore, a massive jump of 30 per cent QoQ from Rs 134 of March 2022.
Shares of Zensar Technologies (NSE Code - ZENSARTECH) marked a fresh 52-week high level on Friday after the stock soared 10 per cent amidst strong Q4 results. ZENSARTECH share price hit a day’s high of Rs 343.35 on NSE with heavy volumes in the aftermath of the release of March quarterly numbers.
For Q4FY23, the company reported 5.10 per cent YoY growth in revenue to Rs 1,212 crore from Rs 1,153 crore in March 2022. Interestingly, the EBITDA jumped by a massive 30 per cent QoQ to Rs 175 crore from Rs 134 from the same period last year.
For the full fiscal year (FY22-23), the Pune-based IT company’s operating revenue rose 14.2 per cent to Rs 4,848 crore, while gross profit rose 2 per cent to Rs 1,348 crore.
Commenting on the financial results, CFO of Zensar Technologies, Mr. Sachin Zute said, “Our daily sales outstanding (DSO) has been one of the best in recent quarters and collections have been healthy for the company. DSO for the quarter was 74 days, an improvement of 6 days from the previous quarter. Our Q4FY23 order book was $1.749 million, a seasonally high growth of 34 per cent from the previous quarter”.
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Meanwhile, management indicated continued disciplined operating efficiencies have helped improve the company’s margins.
Zensar Technologies is a midsized global digital solutions and technology services company, offering a range of services and solutions across various industries including manufacturing, retail, banking, healthcare and more.