Zen Technologies Ltd.’s net profit in the first quarter of this financial year fell 38% to Rs 47.75 crore.
The defence company had recorded a net profit of Rs 76.81 crore in the same quarter of the previous fiscal, according to its stock exchange notification on Saturday.
Revenue decreased 37.9% year-on-year for the three months ended June, reaching Rs 158.22 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 42% year-on-year to Rs 64.70 crore. The Ebitda margin contracted 208 basis points to 40.9%.
Defence training and anti-drone solutions provider in June had announced the acquisition of a majority stake in TISA Aerospace Pvt Ltd, a defence technology company specialising in indigenously developed loitering munitions and unmanned aerial vehicles.
Zen Technologies CEO and MD Ashok Atluri expects margins to rise upto 35% in the near future, and sees working capital coming down to 120 days.
