Zensar Technologies share price hits NEW HIGH amid strong Q1 results, stock up near 40% in a month

On the back of healthy first-quarter numbers, the shares of Zensar Technologies hit a new 52-week high to Rs 423.7 per share after rallying for around 9 per cent on the BSE intraday trade on Tuesday.

The tech company on Monday posted a 38.9 per cent growth in net profit to Rs 101 crore in the June-end quarter of the financial year 2021-2022, as against Rs 72.7 crore in the year-ago period.

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The company in its filing to exchanges said, the operating revenue declined by 1.2 per cent to Rs 936.8 crore in Q1FY22 from Rs 948.5 crore in the corresponding period of the previous fiscal year.

The stock on Tuesday opened marginally higher today, however, started gaining momentum and hit an all-time high level. The stock at around 11:20 am was trading around 5 per cent to Rs 408 apiece on the BSE, as against a 0.05 per cent rise in the S&P BSE Sensex. 

In the last five sessions, the stock has jumped around 14 per cent, while it spurted almost 40 per cent in the last one month. 

The net profit, in dollar terms, grew 43.4 per cent to $13.8 million, while operating revenue was up 1.6 per cent year-on-year to $127.2 million.

In a management commentary, Zensar Technologies Chief Executive Officer and Managing Director Ajay S Bhutoria said "Driven by strong business and operational focus, we saw our revenue increase sequentially quarter-on-quarter by 5.8 per cent in Q1 FY22, and our PAT by 10.9 per cent.”

“This growth is underpinned by healthy performance in our key verticals of HiTech/ Manufacturing and Financial Services, and momentum in our US and South Africa regions," Bhutoria said further.