DroneAcharya’s H1 Profit Slides 62% To INR 1.50 Cr

Drone company DroneAcharya Aerial Innovations’ consolidated profit after tax (PAT) plunged 62.1% to INR 1.50 Cr during the six months ended September 2024 (H1 FY25) from INR 3.96 Cr in the same period last year. 

However, the BSE SME-listed company’s revenue from operations went up 28.8% to INR 26.90 Cr during the year under review from INR 20.88 Cr in the first half of FY24. Including other income of INR 75.86 Lakh, the company’s total revenue stood at INR 27.66 Cr in H1 FY25. 

Total expenses shot up 51.8% to INR 25.23 Cr from INR 16.62 Cr in the corresponding part of the previous year. This jump can largely be attributed to the company’s spending on purchasing materials.

The cost of material purchased stood at INR 10.31 Cr in H1 FY25, up significantly from INR 50.84 Lakh in the year-ago period. Besides, it spent INR 3.05 Cr on employees in the six months ended September 2024, up about 19% from the INR 2.56 Cr in the corresponding period last year. 

The decline in the bottom line is in contrast to the company’s recent claims. In September, DroneAcharya said it is targeting a 200% growth in revenue, EBITDA and PAT in FY25. The company reported a consolidated PAT of INR 6.2 Cr in FY24. 

Founded by Prateek Srivastava in 2017, DroneAcharya offers an array of drone solutions for multi-sensor drone surveys, pilot training, and data processing, among others. The startup forayed into drone manufacturing last year. 

Earlier this year, it bagged an order from Indian Institute of Technology (IIT), Ropar to upskill 150 individuals in drone technology. 

In July, the company also received the approval from the Directorate General of Civil Aviation (DGCA) to open its fifth Remote Pilot Training Organisation (RPTO) in Karnataka’s Dharwad. 

The company released its financials for H1 FY25 after market hours. Its shares ended Wednesday’s (November 12) trading session 1.9% higher at INR 135.95.