/indianstartupnews/media/media_files/2025/01/29/VD61VBfEOM6JhlNdIonI.jpg)
Rakesh Verma, cofounder & CMD, MapmyIndia
C.E. Info Systems Ltd., which owns and operates MapmyIndia, has announced its financial results for the third quarter (Q3) and nine months of fiscal year 2025, highlighting double-digit growth in revenue and profits.
The company, which specializes in advanced digital maps and geospatial technology, reported revenue from operations of Rs 114.5 crore in Q3 FY25, up from Rs 92 crore a year ago—a 24.5% jump year-on-year.
For the nine-month period ended December 31, 2024, revenue climbed to Rs 319.7 crore, reflecting a 17.3% increase over the same period last year. Total income for Q3 FY25 stood at Rs 123.9 crore, marking a 19.6% rise from the prior-year quarter, while the nine-month total reached Rs 348.8 crore, up 16.9%.
Profitability and margins
The company’s operating performance remained strong, with EBITDA growing 15.7% to Rs 41.7 crore in Q3 FY25, compared to Rs 36 crore in Q3 FY24. EBITDA for the nine-month period stood at Rs 122 crore, up from Rs 114.4 crore last year, representing a 6.7% increase.
MapmyIndia’s profit after tax (PAT) reached Rs 32.3 crore for the quarter, slightly above the Rs 31.1 crore recorded in the same period a year ago. Over the first nine months of FY25, PAT came in at around Rs 99 crore, reflecting modest growth over FY24.
EBITDA margins, however, dipped to 36.4% in Q3 FY25 from 39% in the year-ago quarter. For the nine months, the margin stood at 38.2%, down from 42% in the same period last year. PAT margin also narrowed, ending at 26.1% in Q3 FY25 versus 30% a year ago, and at 28.3% for the nine-month period compared to 32% in FY24.
Segment performance
During Q3 FY25, revenue in the Consumer Tech & Enterprise Digital Transformation (C&E) segment jumped 39% year-on-year to Rs 65 crore, while the Automotive & Mobility Tech (A&M) segment witnessed a 9% increase to Rs 49 crore. For the nine-month period, C&E rose 19% while A&M improved by 16%.
Additionally, the map-led business grew 33% to Rs 87 crore in Q3 FY25, whereas IoT-led operations expanded by 4% for the quarter, impacted by some delays in anticipated deals. The company noted that subscription services grew 31% year-on-year in Q3.
Leadership comments
“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 organization,” Rakesh Verma, chairman and managing director of MapmyIndia, said in a statement.
"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," Verma added.
MapmyIndia closed Q3 FY25 with Rs 603.8 crore in cash and cash equivalents, including financial instruments, up from Rs 516.1 crore the previous year.
MapMyIndia's market presence
MapMyIndia is an Indian deeptech digital map data, geospatial software and location-based IoT products, platforms, solutions and APIs company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS).
The company provides its digital maps, software products, platforms, application programming interfaces (APIs), IoT and solutions to new-age tech companies, businesses across industry verticals, automotive OEMs, government organisations, developers and consumers, under the Mappls MapmyIndia brand.
It claims to have served more than 2,000 enterprise clients since its inception.