New Delhi, India, 29th January 2025: C.E. Info Systems Ltd. (“MapmyIndia”), India’s leading advanced digital maps and deep-tech products and platforms company, announced today its financial results for the Third Quarter and Nine months of FY2025 ended on 31st December 2024.
Financial Highlights for Q3 and 9M FY25:
| Particulars (Rs Cr) | Q3 FY25 | Q3 FY24 | YoY % Growth | 9M FY25 | 9M FY24 | YoY % Growth |
| Revenue from Operations | 114.5 | 92.0 | 24.5% | 319.7 | 272.5 | 17.3% |
| Total Income | 123.9 | 103.6 | 19.6% | 348.8 | 298.3 | 16.9% |
| EBITDA | 41.7 | 36.0 | 15.7% | 122.0 | 114.4 | 6.7% |
| EBITDA Margin (%) | 36.4% | 39.0% | – | 38.2% | 42.0% | |
| PAT | 32.3 | 31.1 | 4.0% | 98.6 | 96.2 | 2.5% |
| PAT Margin (%) | 26.1% | 30.0% | – | 28.3% | 32.0% | |
| Cash & Cash Equivalents (including financial instruments) | 603.8 | 516.1 | – | 603.8 | 516.1 |
Commenting on the Q3 and 9M FY25 results, Rakesh Verma, Chairman & Managing Director, 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 the integral part of the organization.
On the financial front, our revenue for Q3 FY25 reached ₹115 crore, showing a 25% YoY growth. Over the first nine months of FY25 (9M FY25), our revenue grew to ₹320 crore by 17%, up from ₹273 crore during the same period last year.
In terms of profitability, our EBITDA for Q3 FY25 was ₹42 crore, yielding a margin of 36%, compared to ₹36 crore in Q3 FY24 at 39%. For the first nine months of FY25, our 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. We will continue to prioritize the Mappls App as a key strategic asset while we will calibrate the costs associated from Q4 onwards. Our 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% YoY, while our C&E revenue saw a 19% increase. Our 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. Our continued focus to build IoT-led business with higher margin subscription revenue has resulted in the IoT-led EBITDA margin to grow from 8% in 9M FY24 to 12% in 9M FY25.
Our efforts in the previous quarters culminated in securing a major deal with one of the largest global social media networks across all their app platforms in India, as well as significant wins in the burgeoning quick commerce space and BFSI vertical, which had a strong positive impact on our C&E business. We also made significant strides in customer acquisition and deepened relationships with existing clients through upselling and cross-selling initiatives. This included notable go-lives and project wins across various sectors, such as automotive, fleet management, tech startups, traditional corporations, government and defence.”