DroneAcharya’s Net Profit Doubles To 6.2 Cr In FY24, Operating Revenue Jumps 90%

SUMMARY

DroneAcharya’s operating revenue increased nearly 90% to INR 35.19 Cr in FY24 from INR 18.56 Cr in FY23

The startup attributed this increase to the company’s steady and consistent growth as a drone solution provider and drone centric training organisation

Including other income, the startup’s total revenue grew to INR 37.35 Cr in FY24 from INR 19.13 Cr a year ago

Pune-based drone startup DroneAcharya Aerial Innovations reported a consolidated profit after tax (PAT) of INR 6.2 Cr in the financial year 2023-24 (FY24), almost 2X increase from INR 3.42 Cr in the corresponding period of the previous fiscal year.

DroneAcharya’s operating revenue increased nearly 90% to INR 35.19 Cr in FY24 from INR 18.56 Cr in FY23. The startup attributed this increase to the company’s steady and consistent growth as a drone solution provider and drone centric training organisation.

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. It partnered with Gujarat-based robotics company Gridbots Technologies for commercial production, assembly, and export of drones and associated products from July 2023.

Including other income, the startup’s total revenue grew to INR 37.35 Cr in FY24 from INR 19.13 Cr a year ago.

“Currently, DroneAcharya is India’s leading and pioneering DGCA certified Drone pilot training in the private segment. The company has also made significant strides in bagging multiple International Drone service projects and valuable industrial connections with Drone manufacturers, investment in drone centric companies and acquisitions of value adding firms in India and globally,” the company said in a statement.

Till last year, DroneAcharya had two DGCA certified drone pilot training organisations in Pune and Gujarat. In FY24, the company doubled the count by adding 2 more new centres at IIT Ropar, Punjab and Jaipur.

“Our first roll out for FY25 would be the launch of our range of type certified Agricultural Spraying Drones. Internationally as well, we are making steady progress, becoming one of India’s first few Drone Startups to venture into Southeast Asia. The plan is to start exporting Make in India drones to Southeast Asia, Middle East, Africa and Europe in the current financial year, creating a global footprint and promoting India as a Global Drone Hub,” Srivastava said.

It must be noted that earlier this year DroneAcharya Aerial Innovations bagged an order from the Adani Group to provide Directorate General of Civil Aviation (DGCA) certified drone pilot training.

Moreover, in January, it secured a contract from the Indian Army to provide capacity building and advanced drone training at the Mechanised Army Courses Group, Ahmednagar. In February, it signed a pact with Vimaan Aerospace to provide drones and drone-related training and services.