The Hindu Business Line : Zensar net up at Rs 39 cr

ZENSAR Technologies, a joint venture of the RPG group and Fujitsu, has reported a consolidated net profit of Rs 39.1 crore for the year ended March 31, 2005, compared to Rs 12.6 crore the previous year. This includes the profit on sale of land and buildings of Rs 21.1 crore.

Zensar's land and buildings at its Nagar Road campus in Pune have been sold following the management decision to build fully integrated development facilities at Kharadi, Pune. This resulted in a realisation of idle assets and gave the company a cash flow of over Rs 35 crore.

The revenues for the year showed an increase of 29% at Rs 345 crore, compared to Rs 267 crore in the same period last year.

Mr Ganesh Natarajan, Zensar's Deputy Chairman and MD, at a board meeting said, "The strong results reported by Zensar are reflective of the company's pioneering Solution BluePrint framework, which has directly contributed over 33 per cent to the new business in the current year." .

Mr Natarajan said offshore business increased to 43 per cent of revenue from 38 per cent the previous year. The BPO business was on track with a good order book to break even in Q4 2005-06.

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