{"id":106588,"date":"2023-08-09T16:11:51","date_gmt":"2023-08-09T10:41:51","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106588"},"modified":"2023-08-09T16:11:53","modified_gmt":"2023-08-09T10:41:53","slug":"newly-listed-drone-stock-falls-7-after-company-reports-54-decline-in-net-profits","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/newly-listed-drone-stock-falls-7-after-company-reports-54-decline-in-net-profits\/","title":{"rendered":"Newly listed Drone stock falls 7% after company reports 54% decline in net profits"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4280735804\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of a newly listed drone manufacturing company shed 7.4 percent on Wednesday intraday trades to reach a 52-week low of \u20b9 996.00 apiece. This happened even though it received orders from the Ministry of Defence.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-482587246\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/IDEAFORGE\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Ideaforge Technology<\/a><\/strong> is a leader in the Indian unmanned aircraft systems (UAS) market, with a market share of 50 percent in FY22. It manufactures UAVs for mapping, security and surveillance. These drones are capable of a wide range of mining area planning, and mapping applications.\u00a0<\/p><p>The drone manufacturing company got listed on the exchanges in July, after a successful initial public offer (IPO). In fact, its shares got listed at a premium of 94 percent at \u20b9 1305.00 apiece on July 7, against an issue price of \u20b9 672.00.&nbsp;<\/p><p>The stock is still 51 percent higher than its issue price of \u20b9 672.00, however, it has corrected 22 percent as compared to its listing day close of \u20b91295.50 apiece.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-4141000489\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The Mumbai-based company on Wednesday announced that it has bagged an order worth \u20b9 88 crore from the Defence Ministry for the supply of surveillance quadcopters, with accessories to one of the forces under the Ministry of Defence.&nbsp;<\/p><p>However, its share price did not return to the green, as its quarterly results failed to cheer shareholders. The company\u2019s net profit declined by 54 percent to \u20b9 18.9 crores in the April to June quarter (Q1FY24), compared to \u20b9 41.24 crores in the corresponding period a year ago. Its total income came in at \u20b9 100.6 crores in the June quarter, compared to \u20b9 100.3 crores a year ago.&nbsp;<\/p><p>With a market capitalization of \u20b9 4,485 crores, ideaForge is a small-cap company. It has a high return on equity of 39.46 percent and an ideal debt-to-equity ratio of 0.08. Its shares were trading at a price-to-earnings ratio (P\/E) of 40.79, which is higher than the industry P\/E of 33.10, indicating that the stock might be overvalued as compared to its peers.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1457132733\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of a newly listed drone manufacturing company shed 7.4 percent on Wednesday intraday trades to reach a 52-week low of \u20b9 996.00 apiece. This happened even though it received orders from the Ministry of Defence.&nbsp; Ideaforge Technology is a leader in the Indian unmanned aircraft systems (UAS) market, with a market share of 50 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":105951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[10728,10730,10493,948,936,10729],"class_list":["post-106588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-ideaforge-technology-latest-news","tag-ideaforge-technology-q1-results-2023","tag-ideaforge-technology-share-price","tag-stock-market","tag-stock-market-news","tag-why-is-ideaforge-technology-share-falling"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Newly listed Drone stock falls 7% after company reports 54% decline in net profits - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of a newly listed drone manufacturing company shed 7.4 percent on Wednesday intraday trades to reach a 52-week low of \u20b9 996.00 apiece. 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