MapMyIndia Q1 PAT rises 11% YoY to Rs 36 cr

C.E. Info Systems (MapMyIndia) reported 11.17% rise in consolidated net profit to Rs 35.82 crore in Q1 FY25 as against Rs 32.22 crore posted in Q1 FY24.

Revenue from operations jumped 13.51% year on year (YoY) to Rs 101.49 crore in Q1 FY25.

Profit before tax stood at Rs 47.15 crore in Q1 FY25, up 12.66% from Rs 41.85 crore recorded in the corresponding quarter previous fiscal.

EBITDA grew by 14.3% to Rs 42.8 crore in Q1 FY25 as compared to Rs 37.4 crore posted in same quarter last year. EBITDA margin improved to 42.1% in Q1 FY25 as against 41.9% in Q1 FY24.

 

Cash and cash equivalents (including financial instruments) stood at Rs 552.3 crore during the quarter as against Rs 492.4 posted in Q1 FY24.

Rakesh Verma, chairman & managing director, MapmyIndia, said, Our Map-led business demonstrated strong growth of 17.2% and EBITDA margins of 50.1%. Our IoT-led business, as per our focus, showed tremendous growth of 89.6% in its High Margin SaaS revenue.

During Q1FY25, we also expanded the capabilities and addressable market for MapmyIndia to cover AI-Driven Data Analytics & Consulting needs of customers across industry verticals, and this will be beneficial to MapmyIndia in the time to come. The levers for growth and profitability are in place, and we are on track towards our milestone of crossing Rs 1000 crore revenue by FY27/FY28.

Rohan Verma, CEO & executive director, MapmyIndia, said, During Q1FY25, our A&M (Automotive & Mobility Tech) revenue grew 9.5% and C&E (Consumer Tech & Enterprise Digital Transformation) revenue grew 16.9%. New customer acquisition as well as up-sell and cross-sell of newer use cases and solutions to existing customers were on track, with key wins and go-lives across all our customer segments including automotive, fleets, newage tech companies and traditional corporates, and the government, including defence.

Our wide range of solutions saw increased adoption, such as our E-Horizon for ADAS & Advanced EVs, Video Telematics for Fleets, APIs & SDKs for app developers & enterprises, geospatial solutions including 3D digital twin mapping. Besides our offerings of MaaS, SaaS, PaaS and IoT devices, the new add-on ability to deliver AI-driven Data Analytics and Bespoke Consulting to Enterprise clients, will aid us in increasing our value proposition and share of wallet amongst our customers as we can aid them in their digital transformation journey, in an even bigger way. Finally, our consumer products adoption continues to rise nicely.

C.E. Info Systems provides digital map data, GPS navigation and location-based services, software and customizing its products to customers (combined) through royalty, annuity, subscription.

The counter advanced 2.06% to ends at Rs 2,226.90 on Friday, 9 August 2024.

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