Zensar Technologies drops after poor Q2 results

Zensar Technologies fall 1.88% to Rs 990 at 14:56 IST on BSE after consolidated net profit fell 2.51% to Rs 74.54 crore on 0.27% increase in total income to Rs 777.34 crore in Q2 September 2016 over Q1 June 2016.

The result was announced after market hours yesterday, 17 October 2016.

Meanwhile, the S&P BSE Sensex was up 484.34 points, or 1.76%, to 28,014.31.

On BSE, so far 17,000 shares were traded in the counter, compared with average daily volume of 13,374 shares in the past one quarter. The stock hit a high of Rs 997 and a low of Rs 948.80 so far during the day. The stock hit a record high of Rs 1,136.05 on 9 August 2016. The stock hit a 52-week low of Rs 805 on 29 February 2016. The stock had outperformed the market over the past 30 days till 17 October 2016, rising 0.77% compared with 3.74% decline in the Sensex. The scrip aso outperformed the market in past one quarter, rising 0.3% as against Sensex's 0.93% decline.

The mid-cap company has equity capital of Rs 44.75 crore. Face value per share is Rs 10.

S Balasubramaniam, Chief Financial Officer, Zensar Technologies said that the company's focus on its top 20 clients both in terms of penetration through multi service and digital have begun to show result in terms of revenue and profitability.

Zensar Technologies is a leading software and infrastructure services and solutions provider with industry expertise across manufacturing, retail, insurance, utilities, banking, financial services and government.

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