RPG Group IT firm Zensar Technologies on Friday said it expects industry-level growth in Q4 and is committed to deliver 15 percent margins in FY21 at the operating level.
In an interview to CNBC-TV18, Sandeep Kishore, managing director and chief executive officer, said the overall results have been weak due to one-time impact, "However, by end of this fiscal, Zensar expects the growth to normalise and the business matrix to return to Q1 FY20 level."
On the business front, Kishore said, "Retail is a sectoral weakness. However, our financial services, cloud infrastructure and the overall digital portfolio continued to do well. So the business fundamentals are rock-solid."
"We did a strategic cleanup of the tail accounts in retail. So, all of that added to the impact but we are directionally aligned and we will get back to growth," added Kishore.
Zensar Technologies posted a 32.6 percent fall in net profit to Rs 39.5 crore for December quarter. It had posted a profit of Rs 58.6 crore in the year-ago period, Zensar Technologies said in a statement.