MapmyIndia Q2 results: Net profit rises to Rs 33 crore

Digital navigation firm CE Info Systems, which operates under the brand name of MapmyIndia, on Tuesday posted a 30.3 per cent increase in consolidated profit after tax to Rs 33.1 crore in the September quarter.

The company had registered a Profit After Tax (PAT) of Rs 25.4 crore in the year-ago period. The consolidated revenue from operations of MapmyIndia grew 19.4 per cent to Rs 91.1 crore from Rs 76.3 crore in the second quarter of the current fiscal.

"During the second quarter of FY24, MapmyIndia again achieved all-time highs in revenue, EBITDA, and PAT. Besides our existing, core B2B and B2B2C business, we are very happy that our B2C Mappls App has been receiving significant traction recently, and now has over 11 million lifetime downloads, including 10 million on Android and over 1 million on iOS," MapmyIndia Chairman & Managing Director Rakesh Verma said.

MapmyIndia CEO and Executive Director Rohan Verma said the revenue growth of the company in the April-September period was broad-based, with Automotive and Mobility (A&M) technology registering a 23.5 per cent growth and consumer technology and enterprise digital transformation solution suite growing 32.2 per cent.

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