Zensar Tech slips 13% intra day
By
Research Desk
about 9 years ago
Zensar Technologies has fallen into the red, going down 13% intra day to Rs.821 and this is thanks to its Q3FY16 performance.
The company reported a 22% (QoQ) decline in consolidated net profit at Rs.71 crire on an almost static revenue at Rs.762 crore, up less than 0.5%.
Operating profit fell 4% to Rs.114 crore while margins fell 75 bps to 14.97%.
A muted performance was expected as Q3 is seasonally weak; also two large projects ending in Q2 did not help. Its revenue contribution from top five clients dropped 35% in Q3 from 37% in Q2 and revenue from top 10 clients fell from 47% to 43%.