Zen Technologies’ shares rise on third-quarter results

Zen Technologies Ltd’s shares were up by 5 per cent after the company reported financial results for the third quarter. Revenue increased 198 per cent, EBITDA surged 371 per cent, and PAT rose 317 per cent during this period.

Ashok Atluri, Chairman and Managing Director, said FY24 was poised to be a successful year in terms of financial performance and new order wins. The company secured 15 new patent grants in India during FY24. It was exploring inorganic expansion through acquisitions, allowing fund-raising up to ₹1,000 crore.

He added, “In line with our previously stated guidance, we remain on track to achieve our revenue target of ₹450+ crorefor FY24. The order book remains robust, and we are optimistic about securing additional contracts. Further, the export markets continue to offer significant growth opportunities, which the company is actively pursuing with its competitive product offerings. Building on this momentum, we are confident about achieving a turnover of ₹900+ crore in the next financial year, which would mark another milestone in our journey of growth.”

The shares were up by 5 per cent at Rs 762 at 10.40 on the BSE.