Capital Market News Rattanindia Enterprises on Thursday (26 May 2022) announced the appointment of Sarath Chandra Gudlavalleti as chief executive officer of its drone business in NeoSky India, a wholly-owned subsidiary of the company. "Sarath Chandra Gudlavalleti, an alumnus of XLRI, Jamshedpur has over 20 years of experience in technology & retail sector with expertise in setting and scaling up businesses. He is proficient in managing digital transformations and innovative solutions across multiple industries," the company said in a statement. NeoSky India, a wholly-owned subsidiary of RattanIndia Enterprises, is developing 360 degree drone solutions platform with Drones as a Product (DAAP - drone hardware), Drone As a Service (DAAS — drone service solutions) and Software as a service (SAAS — drone softwares) focused on consumer as well as industry applications in India. The company intends to be the market leader in Drone sector in the country. RattanIndia Enterprises is engaged in building businesses in new-age sectors including electric motorcycles, drone (UAV), e-commerce and fintech. The board of RattanIndia Enterprises will consider Q4 results on 30 May 2022. On a consolidated basis, the firm reported net loss at Rs 5.52 crore in Q3 FY22 as against net profit of Rs 0.10 crore in Q3 FY21. Net sales stood at Rs 0.67 crore in Q3 December 2021. Shares of RattanIndia Enterprises tumbled 5.04% to settle at Rs 39.60 on Wednesday.
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