Revenue from operations stood at Rs 91.08 crore in Q2 FY24, registering growth of 19.36% as compared with Rs 76.31 crore posted in the corresponding quarter previous year.

Profit before tax jumped 24.51% year on year to Rs 44.20 crore in the quarter ended 30 September 2023.

EBITDA in Q2 FY24 was at Rs 40.5 crore, up 32.5% from Rs 30.6 crore reported in Q2 FY23. EBITDA margin improved to 44.5% in Q2 FY24 as compared to 40.1% recorded in the same period a year ago.

Cash and cash equivalents (including financial instruments) was at Rs 517.9 crore during the quarter as against Rs 430.6 posted in Q2 FY23.

Rakesh Verma, chairman & managing director, MapmyIndia, said “During Q2 FY24 MapmyIndia again achieved all-time highs in Revenue, EBITDA, and PAT. Map-led business EBITDA margin was strong at 56.4%. IoT-led business EBITDA margin continued to expand quarterly to 8.2% in Q2FY24 versus 6.3% of Q1FY24, due to improved product mix and operational efficiency. Q2 FY24 PAT also reached an all-time high of Rs 33.1 Cr, growing 30.3% YoY, with PAT margin at 33.4%. Besides our existing, core B2B and B2B2C business, we’re very happy that our B2C Mappls App has been receiving significant traction recently, and now has 11 Mn+ lifetime downloads, including 10 Mn+ on Android and 1 Mn+ on iOS.”

Rohan Verma, CEO & executive director, MapmyIndia, said “We are quite excited about the 2nd half of the year, especially Q4, based on the funnel of opportunities ahead for us. H1 Revenue growth was broad-based, with A&M up 23.5% and C&E up 32.2% on the market side, while Map & Data was up 22.6% and Platform & IoT was up 31.5% on the product side.”

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.