Last Updated:
ideaForge Technologies shares jump 17 percent to a 52 week high after Q4 results, company swings to Rs 60 crore profit, revenue surges to Rs 141 crore and margins improve sharply
ideaForge Rockets 17% On Stellar Q4 Show.
ideaForge Share Price: Shares of ideaForge Technologies zoomed 17 per cent on Monday, May 04, after a strong Q4 earnings. The stock also hit its 52-week high of Rs 720 per share.
Drone maker ideaForge Technology reported a strong turnaround in the latest quarter, posting a net profit of Rs 60 crore compared to a net loss of Rs 26 crore in the same period last year.
The company’s EBITDA also improved sharply to a positive Rs 62 crore, versus an EBITDA loss of Rs 22 crore a year ago, indicating a significant improvement in operating performance.
Revenue saw a massive jump, rising sevenfold from Rs 20 crore in the year-ago quarter to Rs 141 crore. On a sequential basis as well, the topline grew more than four times, driven by strong execution during the period.
Margins expanded notably, supported by a sharp drop in material costs, which declined to 11% of revenue from 67% last year and 51% in the previous quarter.
Profitability was further supported by a sharp decline in material costs, which dropped to 11% of revenue, compared to 67% in the same period last year and 51% in the previous quarter.
By the end of the March quarter, ideaForge Technology derived 86% of its revenue from the defence segment, while the remaining 14% came from the civil business.
The company executed around 40% of its open order book, as indicated in the third quarter. It is also expanding into the combat drones segment to tap upcoming procurement opportunities from the Indian Armed Forces.
Read More
Source link
[ad_3]
