Zen Technologies shares end losing streak, hit 10% upper circuit. Should you invest?
Zen Technologies snapped their losing streak on Wednesday, soaring 10% in intraday trade to hit their upper circuit at Rs 1,069.20 on the NSE.
Zen Technologies shares had fallen after the drone manufacturing company reported a sequential decline in profitability and revenue in its third-quarter earnings for the period ending December.
For Q3 FY25, the company posted a net profit of Rs 38.62 crore, marking a 22% increase year-on-year from Rs 31.67 crore. The rise was primarily driven by higher other income. However, on a sequential basis, net profit tumbled 40.8% from Rs 65.24 crore in the previous quarter, triggering investor concerns.
Meanwhile, revenue from operations rose 44% year-on-year to Rs 141.52 crore in the December quarter but declined 41.44% sequentially from Rs 241.69 crore.
Post the company’s Q3 results, here’s what analysts across brokerages say:
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