ideaForge reports ₹2.3 Cr loss in Q1 FY27
Dronetech company ideaForge reported a net loss of ₹2.3 crore in the first quarter of FY27, despite a significant year-on-year increase in operating revenue.
Dronetech manufacturer ideaForge reported a net loss of ₹2.3 crore for the first quarter of FY27, ending June 2026. This marks a return to losses after posting profits in the preceding quarter.
The company's operating revenue saw substantial growth, increasing 436% year-on-year to ₹68.6 crore. However, revenue declined sequentially by approximately 51% from the previous quarter.
Despite the net loss, ideaForge achieved operational milestones, including its drone fleet surpassing one million customer flights. The company also secured DGCA Type Certification for its Q6 V2 GEO UAV, expanding its market for GIS and enterprise mapping applications in India.
To fund its growth, ideaForge raised ₹500 crore through a Qualified Institutional Placement (QIP). Additionally, the company received a Letter of Intent (LoI) from the government for up to ₹151 crore in financial assistance to develop its YETI middle-mile logistics platform. The company entered FY27 with an order book exceeding ₹300 crore.