Zen Technologies shares jump by 10%; profits rise in Q1
Zen Technologies reported its June quarter profit jumps to Rs 47.13 crore from Rs 8.21 crore in the same quarter last year.
Sales even rose four times to Rs 132.45 crore from Rs 33.23 crore.
Shares of Zen Technologies Ltd rose 10 per cent in Monday’s trade after the drone maker declared an about six times increase in June quarter profit. Zen Technologies, which offers defence training answers and drones and anti- drones solutions, saw its June quarter profit jump to Rs 47.13 crore from Rs 8.21 crore in a similar quarter last year.
Sales even rose four times to Rs 132.45 crore from Rs 33.23 crore. Ebitda’s margin grew to 50.93 per cent against 35.65 per cent in March and 37.80 per cent in the year-back quarter.
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Following the development, the share climbed 10 per cent to hit a high of Rs 674.75 on BSE.
Chairman and Managing Director Ashok Atluri said Zen Technologies’ income and profitability were at a record increase in Q1.
“The successful execution of a significant part of the simulation export and domestic anti-drone orders drove this strong performance in the quarter. The inherent operating leverage of our business model came to the fore this quarter, evident in Ebitda of 51 per cent,” Atluri stated.
