IdeaForge to increase R&D spending this fiscal to boost UAV innovation

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City-based drone maker ideaForge is planning higher R&D spend this fiscal year, as it develops technology and product platforms in the unmanned aerial vehicle (UAV) space.

This year, depending on the revenue, the base may shift, but it will be on the higher side as compared to FY24," Ankit Mehta, co-founder and chief executive officer at ideaForge Technologies Ltd said.

The company's consolidated revenue from operations in fiscal year ended March 31, 2024 stood at Rs 314-crore, while the Profit After Tax was at Rs 45.27 crore.

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Category: BusinessFinance

Markets: India

Topics: UAV technology Defence drones Drone manufacturing Vantage Robotics IdeaForge India drones Drone maker Unmanned aerial vehicles Drone industry growth

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-14 @ 17:15:08 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 441 words

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Sentences: 15 lines

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Copyright Owner: © Business Standard

News ID: 26989594

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