Zen Tech jumps on deals, profits still nosedive
Defense contractor Zen Technologies saw equity values climb nearly 7 percent on Tuesday after securing anti-drone equipment contracts valued at 289 crore rupees from military authorities. Trading opened at 1,420.45 rupees per share on the Bombay Stock Exchange before advancing to 1,147.30 rupees during the session, defying broader market weakness.
Financial disclosures from last month revealed September quarter net income reached 62 crore rupees, down 2.2 percent from 63.40 crore rupees during the corresponding period one year earlier. Operational revenues declined 28 percent to 173.50 crore rupees compared with 242 crore rupees previously, while expenditures dropped from 167 crore rupees to 116.50 crore rupees. First-half results showed revenues falling 30 percent annually to 332 crore rupees alongside net profit contracting from 143 crore rupees to 115 crore rupees, representing a 20 percent yearly decrease.
Share prices have lost approximately 43 percent during the current calendar year despite gaining 24.83 percent over the trailing 12 months. The company manufactures unmanned aerial systems and simulation technologies for defense applications.
