The company reported a consolidated net loss of INR 13.7 Cr in the quarter ending September 2024 (Q2).
Its operating revenue rose about 56.52% to INR 37.1 Cr during the quarter under review from INR 23.7 Cr in Q2 FY24.
The drone startup also reported a negative EBITDA of about INR 10 Cr in Q2 FY25 as against an EBITDA of INR 7 Cr in Q2 FY24.
Drone manufacturer IdeaForge
reported a consolidated net loss of INR 13.7 Cr in the quarter ending September 2024 (Q2) as against a net profit of INR 90 Lakh in the year ago period.
Notably, in the preceding quarter, the startup reported a profit of INR 1.16 Cr.
Operating revenue rose about 56.52% to INR 37.1 Cr during the quarter under review from INR 23.7 Cr in Q2 FY24. On a QoQ basis, it declined about 57% from 86.2 Cr.
The drone startup also reported a negative EBITDA of about INR 10 Cr in Q2 FY25 as against an EBITDA of INR 7 Cr in the corresponding quarter of the previous year.
Despite the company slipping into the red, ideaForge CEO Ankit Mehta remains optimistic.
“The second quarter of the year for us has been a period of doubling down on our initiatives,” he said in a statement.
“We filed six new patents in this quarter and two of our patents were granted as well, taking our global portfolio to 78 patents. Our paid PoCs for Drone-as-a-Service (DaaS) even for enterprise customers are proving helpful in providing us invaluable insights to make it robust and effective,” he added.
(The story will be updated soon)
