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# Drone maker ideaForge returns to profit as quarterly revenue more than doubles
- URL: https://www.bigpitch.co/drone-maker-ideaforge-returns-to-profit-as-quarterly-revenue-more-than-doubles/
- Published: 2026-11-04T08:40:49.000Z
- Updated: 2026-11-04T08:40:49.000Z
- Description: Demand from government and defence customers remains important to ideaForge's business.
- Author: Vimal

Mumbai-based drone manufacturer ideaForge Technology reported a net profit of ₹6.5 crore in the September quarter of FY27, reversing a loss of ₹19.6 crore in the same period last year. Revenue from operations rose 124% year-on-year to ₹91.3 crore, according to the company's financial results.

The results mark a turnaround for the company, which develops unmanned aircraft systems for defence, security and commercial applications.  
  
**Defence orders drive growth prospects**  
Demand from government and defence customers remains important to ideaForge's business. The company said it had completed more than half of its opening order book for FY27, although supply-chain constraints and delays in customer approvals had affected deliveries.

It is also developing new products to expand beyond surveillance. During the quarter, the company worked on a hybrid version of its ZOLT drone, which uses an internal combustion engine to improve range and endurance. It also introduced a combat variant.

The company has pointed to a potential ₹20,000 crore opportunity under the government's Fast Track Procurement programme for surveillance and combat drones. This is an estimated market opportunity, not confirmed revenue or orders for ideaForge.

**Can the turnaround be sustained?**  
For the first half of FY27, ideaForge reported revenue of approximately ₹159.9 crore, up 199% year-on-year, and a net profit of ₹3.9 crore.

The next challenge will be to convert its order pipeline into timely deliveries and consistent earnings. Defence procurement can involve lengthy approval processes, while manufacturing specialised equipment requires careful management of costs and supplies.

The latest results suggest an improvement in business performance, but sustained profitability will depend on future orders, execution and customer payments.