Digital navigation firm CE Info Systems Ltd, which operates under the MapmyIndia brand name, on Tuesday (January 28) reported a 4% year-on-year (YoY) increase in net profit at ₹32.3 crore for the third quarter that ended December 31, 2024.
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In the corresponding quarter of the previous fiscal, CE Info Systems posted a net profit of ₹31 crore, the company said in a regulatory filing. The company’s revenue from operations surged 24.4% to ₹114.5 crore as against ₹92 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA was up 15.3% to ₹41.7 crore in the third quarter of this fiscal over ₹36.1 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 36.4% in the reporting quarter as compared to 39.3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
For the first nine months of FY25, EBITDA stood at ₹122 crore, with a margin of 38%, as compared to ₹114 crore and 42% margin recorded in the same period last year. The Profit After Tax (PAT) for the first nine months of FY25 was ₹99 crore, up from ₹96 crore in 9M FY24.
In Q3 FY25, Consumer Tech & Enterprise Digital Transformation (C&E) revenue surged by 39% to ₹65 crore, while Automotive & Mobility Tech (A&M) revenue had a steady growth of 9% to ₹49 crore. In the first nine months of FY25, our A&M revenue grew by 16% year-on-year, while our C&E revenue saw a 19% increase.
The Map-led business delivered a very strong 33% growth to ₹87 crore in Q3 FY25, while the IoT-led business had a growth of 4% during the quarter due to delays in some anticipated business. However, subscription services grew 31% year on year for the quarter.
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The company’s continued focus on building IoT-led business with higher margin subscription revenue has resulted in the IoT-led EBITDA margin growing from 8% in 9M FY24 to 12% in 9M FY25.
Rakesh Verma, Chairman and Managing Director of MapmyIndia, said, “In Q3 FY25, we successfully operationalized the joint venture with Hyundai Autoever in Indonesia, marking an important step in expanding our global footprint. As part of our long-term strategy, both the Mappls App and the Mappls brand will continue to be an integral part of the organisation.”
The results came after the close of the market hours. Shares of CE Info Systems Ltd ended at ₹1,592.10, down by ₹70.20 or 4.22% on the BSE.
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