Zen Technologies Q1 Results: Profit jumps multi-fold to Rs 47 crore

economictimes.indiatimes.com:

Zen Technologies on Monday reported a multi-fold jump in its consolidated profit after tax at Rs 47.09 crore for the first quarter ended June 30. Zen technologies had posted profit after tax (PAT) of Rs 7.46 crore in the same period a year ago, the company said in a regulatory filing.

The sales of the company grew 3.5 times to Rs 132.45 crore during the reported quarter, from Rs 37.07 crore in the June 2022 quarter. «This strong performance in the quarter was driven by the successful execution of a significant part of the simulation export and domestic anti-drone orders,» Zen Technologies Chairman and Managing Director, Ashok Atluri said.

He said that the company's cumulative order is around Rs 1,000 crore with approximately Rs 202 crore it won during the reported quarter and another order the company bagged in July of around Rs 500 crore. «We believe this is merely the onset of an inflection point — a positive black swan event, resulting from the convergence of various factors such as MakeInIndia, Atmanirbharata… »Owing to escalating geopolitical risks and India's improved international relations, we are optimistic about making significant inroads in the export markets, especially for simulators and anti-drone systems," Atluri said.