Zen Technologies‘ share price was up 5% to hit an intraday high of ₹762.30 after the defence company posted its numbers for the quarter that ended in December.
What Happened: Net profit for the October-December period witnessed a substantial increase, growing by nearly 5x to ₹31.66 crore, compared to ₹7.58 crore reported in the year-ago period.
The company’s revenue surged multifold, reaching ₹98 crore for the quarter, compared to ₹32.93 crore reported in the corresponding period last year. Even sequentially, the revenue jumped by 53%.
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EBITDA for the quarter came in at ₹44.22 crore, compared to ₹8.35 crore in the previous year. The margin expanded significantly to 45% from 25.3% last year.
The company’s board has approved raising funds of up to ₹1,000 crore through a Qualified Institutional Placement (QIP) or any other permissible mode or a combination thereof. This capital infusion will provide Zen Technologies with the necessary financial resources to pursue its growth objectives, invest in research and development, and capitalize on emerging opportunities in the defence sector.
The company has had a great year at the bourses. In the last 12 months, the Mukul Agrawal-backed stock has surged up over 280%. Agrawal owns a 1.34% stake in the company.
Price Action: Zen Tech’s share price was locked in 5% upper circuit at ₹762.30 on Monday.
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