Zensar Technologies drops on weak Q3 outcome

Zensar Technologies lost 6.31% to Rs 386.50 at 11:11 IST on BSE, after consolidated net profit fell 28.2% to Rs 50.71 crore on 4.5% fall in total income to Rs 588.38 crore in Q3 December 2013 over Q2 September 2013.

The company announced the result after trading hours on Tuesday, 21 January 2014.

Meanwhile, the BSE Sensex was up 45.52 points, or 0.21%, to 21,296.64

On BSE, so far 31,961 shares were traded in the counter compared with average volume of 16,280 shares in the past one quarter.

The stock hit a high of Rs 399.75 and a low of Rs 376 so far during the day. The stock hit a 52-week low of Rs 180.90 on 25 September 2013. The stock hit a 52-week high of Rs 429.80 on Tuesday, 21 January 2014.

The stock had outperformed the market over the past one month till 21 January 2014, rising 20.45% compared with the Sensex's 0.81% rise. The scrip also outperformed the market in past one quarter, gaining 63.39% as against Sensex's 1.71% rise.

The small-cap company has equity capital of Rs 43.71 crore. Face value per share is Rs 10.

Zensar Technologies' foreign exchange loss stood at Rs 8.56 crore in Q3 December 2013 compared to foreign exchange gain of Rs 14.46 crore in Q2 September 2013.

Meanwhile, Zensar Technologies' board of directors at its meeting held on Tuesday, 21 January 2014, recommended interim dividend of Rs 4 per share for the financial year ending 31 March 2014. The company's board of directors have fixed 31 January 2014 as the record date for ascertaining shareholders entitlement for payment of interim dividend.

Zensar Technologies is a global information technology services and business process outsourcer headquartered in Pune, India.

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