Highlights
Financial Results Announcement by CE Info Systems
CE Info Systems, the parent entity of MapMyIndia, has revealed its financial performance for the third quarter of FY25. The company experienced a significant year-on-year revenue boost exceeding 24% compared to the same quarter in the previous fiscal year (Q3 FY24).
Key Financial Highlights
- MapMyIndia’s operational revenue surged to Rs 114.5 crore in Q3 FY25, up from Rs 92 crore in Q3 FY24, as indicated by the unaudited consolidated quarterly report sourced from NSE.
- Digital map data, GPS navigation, location-based services, and IoT contributed significantly to revenue, accounting for 90% of total earnings. This area saw a robust increase of 32.5%, reaching Rs 102.4 crore in Q3 FY25.
- Revenue from device sales amounted to Rs 12 crore.
Cost Structure
The main expenses incurred by the firm included costs related to IoT devices, employee benefits, and outsourced technical services, which elevated the total expenditure to Rs 79.4 crore in Q3 FY25, compared to Rs 60.5 crore in Q3 FY24.
Profit Performance
As a result of the growth in scale, MapMyIndia reported a profit increase of 4.2%, achieving Rs 32.3 crore in Q3 FY25, up from Rs 31 crore in the same period last year (Q3 FY24).
Current Market Standing
MapMyIndia shares are currently trading at Rs 1609 each, with a market capitalisation of Rs 8,753 crore (approximately $1 billion).
Management Transition
Recently, it was announced that Rohan Verma, the Chief Executive Officer and whole-time director, will resign from his executive position effective March 31, 2025. Rakesh Kumar Verma, Chairman and Managing Director, will continue to lead the company.