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Zen Technologies has secured an order worth Rs Rs 72.29 crore from the Ministry of Defence, Government of India.
Commenting on the results, Ashok Atluri – chairman and managing director, said: "This is one more step towards implementing the framework on simulators that the government released in September 2021. We expect such continuing implementation to lead to better training outcomes, cost savings and sustainability of the environment."
Zen Technologies provides military training and anti-drone solutions. It delivers simulators, equipment, and systems. Its dedicated R&D facility, recognized by the Ministry of Science and Technology, has filed over 130 patents, with 50+ granted.
The company reported a significant increase in standalone net profit, reaching Rs 47.13 crore in Q1 FY24, compared to Rs 8.21 crore in Q1 FY23. Net sales also skyrocketed to Rs 132.45 crore in Q1 FY24, up from Rs 33.23 crore in Q1 FY23.
Shares of Zen Technologies surged 1.77% to Rs 811.60 on 30 August 2023.
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