Zensar Technologies Q1 Review - Strong Beat In Revenue; Recovery In Hi-Tech To Continue: Prabhudas Lilladher
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Prabhudas Lilladher Report
Zensar Technologies Ltd.’s revenue growth (up 5.8% q-o-q U.S. dollar) is back after seven quarters of muted growth, indicating new management’s (Chief Executive Officer Mr. Ajay Bhutoria joined in January 2021) refreshed strategy is headed in right direction.
Strong performance was driven by hi-tech (up 13.4% q-o-q U.S. dollar) and banking (up 4.8% q-o-q) while rest of the verticals showed muted growth.
Deal win total contract value was soft at $96.7 million versus quarterly average TCV of $150 million in FY21 largely due to conservatism of management in reporting TCV.
Zensar Technologies' management mentioned that they have signed good amount of new logos this quarter and expect it to reflect in order book as they start delivering.
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