Zensar Technologies tumble 4% as net profit declines

Shares of Zensar Technologies slumped nearly 4% during early trade on Tuesday after the company reported a 23% decline in second quarter net profit. 

The stock was trading at Rs 970.15 per share on BSE Sensex, below Rs 38.85 per share, or 3.85% at 9.30 am. 

In quarter ended September 30, 2016, the company reported net profit of Rs 74.54 crore, a decline of 22.81% from Rs 96.57 crore a year ago same period. 

Total income from operations was at Rs 772.10 crore, which was up by 2.66% year-on-year (yoy) and 2.02% quarter-on-quarter (qoq). 

S Balasubramaniam, Chief Financial Officer, Zensar Technologies said,"Zensar 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. "