DroneAcharya's FY23 Profits Surge 700% At Rs 3.42 Cr
This was the company's first result since its debut in the public market. In December last year, DroneAcharya stock debuted on the BSE at Rs 102, compared to the public offering price of Rs 54
Photo Credit : ShutterStock,
DroneAcharya, shared its first results since its listing on BSE. The company registered a growth of 417 per cent in total revenues at Rs 18.57 crore during FY 2022-23 as compared to Rs 3.58 crore for FY 2021-22.
Furthermore, the company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) and profits after tax stood at Rs 4.99 crore and 3.42 crore. The company , in a statement, said that both EBITDA and profits registered a 700 per cent upwards growth.
Commenting on the performance of the company, Prateek Srivastava, Founder and Managing Director, DroneAcharya, said, "Our IPO enabled us to secure expansion funding, thereby allowing us to think more audaciously when the opportunities present themselves. The results are a testament to our commitment to creating sustained value. The year 2023-24 will witness our evolution as a drone manufacturer, with our recent foray into industrial, enterprise and defence category drones. At the same time, with the delivery of our drone orders going forward, we will significantly boost our services capability, thereby aiming at a high growth 2023-24.”
The startup is eyeing the overseas market as well. It has expanded to Thailand through its partnership with the Asian Institute of Technology (AIT). Moreover, it claims that it has completed more than 325 DGCA drone pilot training programmes and offered 600 other drone training-related courses. The company has counselled and educated more than 6,000 students in FY23.
In December last year, DroneAcharya stock debuted on the BSE (Bombay Stock Exchange) at Rs 102, compared to the public offering price of Rs 54.
