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FlytBase Posts 47% Revenue Growth in FY24

  • April 11, 2025
  • By Team TheKredible

Pune-based drone tech company FlytBase reported a 47% growth in revenue to Rs 9.83 crore in FY24, up from Rs 6.68 crore in FY23.

FlytBase offers a sophisticated drone autonomy platform that enables scheduled, repeatable BVLOS (Beyond Visual Line of Sight) drone missions through docking stations with minimal human intervention. The platform allows remote command centers to oversee aerial operations while ensuring secure data flows and seamless integration with third-party enterprise tools—making it a scalable solution across industries like logistics, surveillance, and infrastructure inspection.

The company’s expenses rose by 50.3% to Rs 8.66 crore in FY24, compared to Rs 5.76 crore in FY23. Employee benefit costs formed the bulk, constituting 86.6% of total expenses in FY24, up from 83% in FY23, reflecting its ongoing investment in a strong tech talent base. Depreciation costs remained constant at 2% of expenses in both years.

Despite the increase in expenses, FlytBase posted a profit of Rs 78.94 lakh in FY24, up from Rs 68.46 lakh in FY23, signaling improved revenue realization and efficient scaling. However, EBITDA margin saw a marginal dip to 13.80% in FY24, from 15.66% in FY23, while ROCE stood at 35.63% in FY24, down from 39.27% in FY23, suggesting a slightly tighter return on capital as the company scaled operations.