IT Consulting & Software company Zensar Technologies announced Q4FY24 & FY24 results:
Financial Highlights:
- In Q4FY24, the company reported revenue of USD 148.1 million, sequential QoQ growth of 2.4% in reported currency and 2.0% in constant currency.
- For the full year FY24, the company reported services revenue of USD 591.3 million, yearly YoY growth of 1.0% in reported currency and 1.3% in constant currency.
- In Q4FY24, EBITDA was at 16.5%, quarterly YoY increase of 200 bps and sequential QoQ decline of 70 bps.
- In Q4FY24, PAT stood at 14.1%, a quarterly YoY increase of 430 bps and sequential QoQ increase of 70 bps.
- The company reported net cash of USD 261.7 million at the end of Q4FY24, QoQ growth of 5.4%.
- US region reported a sequential QoQ services revenue growth of 4.3% in reported currency and 4.2% in constant currency.
- Europe region reported a sequential QoQ services revenue decline of 1.2% in reported currency and 3.1% in constant currency.
- South Africa reported a sequential QoQ services revenue decline of 2.3% in reported currency and 2.0% in constant currency.
- Banking and Financial Services reported a sequential QoQ services revenue growth of 2.5% in reported currency and 2.0% in constant currency.
- Manufacturing and Consumer Services reported a sequential QoQ service revenue growth of 3.0% in reported currency and 2.3% in constant currency.
- Hitech reported a sequential QoQ services revenue growth of 0.8% in reported currency and 0.7% in constant currency.
- Healthcare and Life Sciences reported a sequential QoQ services revenue growth of 3.6% in reported currency and 3.5% in constant currency.
Manish Tandon, CEO and Managing Director, Zensar, said, “Sequential growth across all our verticals is a testimony of our robust strategy and our bias towards execution excellence. Our expertise in managing digital products, experiences, and engagement for our clients makes us a preferred partner of choice. We moved strength to strength in our client centricity journey by achieving our best customer experience score ever in FY24.
We expanded our market reach with the help of our diversified service offerings. We continue to focus on client and employee satisfaction as our primary pillars of success. Our results give us the confidence to continue strategic investments in our service lines and enhance our capabilities in new age technologies such as Gen AI to foster innovation and deliver growth.”
Sachin Zute, CFO, Zensar, commenting on the FY24 performance, said, “We have achieved strong financial results for FY’24 owing to our focused efforts towards operational excellence & margin improvement tracks which helped us improve our EBITDA by 640 bps to 17.8% and PAT by 690 bps to 13.6% on YoY basis. Our cash stood at USD 261.7M and we further improved our DSO to 73 days at the end of FY’24. We continue to have strong momentum in our order book which grew by 22% YOY and stood at USD 698M for the year.
For Q4FY24, our reported revenue is USD 148.1 million growth of 2.4% sequentially and 2.0% in constant currency. EBITDA margin for Q4 stood at 16.5% which is above our guided range.”