FIIs bought 1,71,000 shares: This drone company bags new order Rs 96,00,000 from Karnataka Forest Department
In its consolidated annual results, the net sales increased by per cent 94.9 per cent to Rs 37.29 crore and net profit increased by 79.2 per cent to Rs 6.13 crore in FY24 compared to FY23.
On Friday, shares of DroneAcharya Aerial Innovations Ltd gained 1.01 per cent to Rs 140.20 per share with an intraday high of Rs 142 and an intraday low of Rs 138.10. The stock’s 52-week high is Rs 221 and its 52-week low is Rs 125.25.
DroneAcharya Aerial Innovations Limited has secured a significant contract valued at Rs 96,00,000.00 to train 240 officials from the Karnataka Forest Department in drone piloting and its applications in forestry and surveillance. This achievement is coupled with another milestone: the company has received DGCA approval to establish its fifth Remote Pilot Training Organization (RPTO) in Dharwad, Karnataka, in collaboration with the Karnataka Forest Academy. This new centre will not only train the aforementioned officials but also open its doors to the general public, offering a diverse range of drone-related courses.
Beyond the Dharwad centre, DroneAcharya operates RPTOs in Maharashtra, Gujarat, Rajasthan, and Punjab, providing comprehensive drone training and specialized courses. The establishment of the Dharwad Centre is a pivotal step in empowering the Karnataka Forest Department with advanced drone technology. By equipping forest officials with the skills to operate and utilize drones effectively, the department will be better equipped to enhance surveillance, search and rescue operations, and wildlife conservation efforts, ultimately contributing to the protection of the state's rich forest ecosystem.
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About DroneAcharya Aerial Innovations Ltd
DroneAcharya Aerial Innovations Ltd is a leading provider of drone-based solutions, dedicated to pushing the boundaries of innovation in aerial technologies and AI-driven applications. With a focus on delivering cutting-edge solutions, DroneAcharya is committed to transforming industries through the integration of drones and automation. As of March 2024, FIIs bought 1,71,000 shares and increased their stake to 2.02 per cent compared to 1.31 per cent in September 2023. The company has a market cap of Rs 336 crore.
According to standalone annual results, the net sales increased by per cent 95.2 per cent to Rs 37.35 crore and net profit increased by 81.4 per cent to Rs 6.20 crore in FY24 compared to FY23. In its consolidated annual results, the net sales increased by per cent 94.9 per cent to Rs 37.29 crore and net profit increased by 79.2 per cent to Rs 6.13 crore in FY24 compared to FY23.
Disclaimer: The article is for informational purposes only and not investment advice.
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