India : In the third quarter of the fiscal year 2024,C.E.Info Systems ( MapmyIndia) achieved a significant milestone by surpassing the Rs 100 crore mark in quarterly Total Income. Additionally, the company reported a remarkable 36% year-on-year growth in Revenue, reaching an all-time high yet again. Furthermore, the year-to-date (YTD) EBITDA margins remained robust at 43%, exhibiting a 38% year-on-year growth.
- In the third quarter of fiscal year 2024, the Total Income for MapmyIndia stood at Rs 103.6 Crore, while Revenue reached an all-time high of Rs 92 Crore, marking a significant 36% year-on-year growth. The revenue for the first nine months of the fiscal year 2024 amounted to Rs 272.5 Crore.
- The EBITDA for Q3FY24 experienced a robust 38% year-on-year growth, reaching Rs 116.6 Crore, with the 9MFY24 EBITDA also growing by 32% year-on-year to Rs 116.6 Crore. The EBITDA margin for the first nine months of fiscal year 2024 stood at 43%.
- Profit After Tax (PAT) for the first nine months of fiscal year 2024 witnessed a 21% year-on-year growth, amounting to Rs 96.2 Crore, with a PAT margin of 32%.
- Commenting on the Q3FY24 and 9MFY24 results, Rakesh Verma, Chairman & Managing Director of MapmyIndia, expressed satisfaction with the company’s performance, stating, “We’re pleased to announce that MapmyIndia has achieved a significant milestone by surpassing Rs 100 Crore in quarterly Total Income for the first time, along with reaching an all-time high Revenue of Rs 92 Crore in Q3FY24, marking a 36% year-on-year growth. Additionally, our year-to-date Revenue has reached Rs 272.5 Crore. In Q3FY24, our EBITDA grew by 38% to Rs 38.6 Crore, and for the year-to-date period, it increased by 32% to Rs 116.6 Crore, with an overall EBITDA margin of 43%.” Verma also highlighted the strength of Map-led EBITDA margin, which remains robust at 55.1% for the year-to-date period. Furthermore, he noted the expansion of IoT-led EBITDA margin to 10% in Q3FY24 compared to 8.2% in Q2FY24, with a significant year-to-date expansion of 730 bps year-on-year, standing at 8.2%. Verma emphasized the robustness of the year-to-date PAT, which reached Rs 96.2 Crore, growing by 21% year-on-year, with a PAT margin of 32%. Looking ahead to Q4FY24, Verma expressed excitement, stating, “Q4FY24 will be exciting. Not only are we pleased with the growth of our core B2B and B2B2C businesses, but we are also encouraged to see our consumer business gaining momentum with increased brand awareness and product uptake.”
About MapmyIndia & Mappls (C.E. Info Systems Ltd):
- MapmyIndia has established itself as the provider of India’s most comprehensive, accurate, and feature-rich digital map data product, offering detailed information down to the level of addresses and urban buildings across the country.
- This extensive coverage encompasses all towns, villages, and the entire road network of India. In addition to 2D maps, MapmyIndia is also developing 3D maps with landmarks, terrains, and city models, as well as 4D maps that update in near real-time.
- Furthermore, the company is creating HD maps with high-definition and high-accuracy features, RealView maps with geo-tagged 360-degree panoramas, videos, and photos representing actual ground reality, and hyperlocal geo-demographics data-rich maps. These efforts are part of MapmyIndia’s vision to continuously evolve its AI-powered Digital Metaverse Twin of the Real World.
- Moreover, MapmyIndia is extending its mapping capabilities to other regions worldwide and has integrated global maps for over 200 countries into its Mappls platform.
- The company’s platform offers a wide range of functionalities and an ever-expanding set of use cases, including mapping, location and navigation services, geospatial data analytics, GIS (geospatial information systems) and AI integration, GPS tracking, IoT-based fleet management, logistics optimization, workforce management, drone-based solutions, developer APIs, and specialized solution suites for Automotive & Mobility Tech (A&M), such as N-CASE (Navigation, Connected vehicle telematics and services, ADAS safety, Shared and Electric), as well as for Consumer tech and Enterprise digital transformation (C&E).