Zensar, the RPG Group IT firm has posted a net profit of Rs 10.7 cr for the quarter ended March 31, 2017 that shows a drop of 86.6% from the previous quarter and 84.44% from the corresponding quarter in 2016.

The total revenues for the period were Rs 743.7 crore which is up 5.5% sequentially and marginally higher as compared to the corresponding quarter of last year.

Zensar CEO, Sandeep Kishore has said that the drop in net profit was attributable to a drop in opening margins combined with a forex impact of Rs 26.54 cr during the quarter.

Moreover, the company made provisions for amortisation of certain tangible assets during the quarter worth Rs 25.75 cr that also had an impact on profitability.

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