Shares of Zen Technologies rose 8% intraday on May 8 after the company reported a 510% year-on-year rise in consolidated net profit to Rs 20 crore in the fourth quarter. Its net profit for the December 2022 quarter was Rs 9 crore.

Total revenue rose 215% year-on-year to Rs 96 crore compared to Rs 30 crore in the corresponding period of the previous financial year. On a sequential basis, total revenue for the quarter was up 76%.

On a full-year basis, the company that designs, develops and manufactures defence training solutions reported a multi-fold profit after tax (PAT) increase to Rs 50 crore in FY23 from Rs 2.6 crore in FY22. The company’s operating income rose 214% to Rs 219 crore compared to Rs 70 crore reported in FY22.

“As previously promised, we recorded the highest revenue in the history of Zen Technologies. We also secured new orders worth Rs. Good growth,” said Zen Tech’s CMD Ashok Atluri.

“As committed earlier, we recorded the highest revenue in the history of Zen Technologies. We also secured new orders worth Rs 141.67 crore during the quarter. We have a strong order book of Rs 473 crore and expect good growth in coming quarters,” said Ashok Atluri, CMD, Zen Tech.

The board also approved a final dividend of equity shares at 20%, representing Re 0.20 per equity share of Re 1 each for the financial year ending March 31, 2023.

The company’s market cap has risen 51% over the past six months and is up more than 64% so far this year. Shares traded 7.23% higher at Rs 307.30 on the NSE at 10:55 am, while the benchmark Nifty IT traded 0.3% higher at 27,802.05.