MapMyIndia's revenue jumps 13.7% to Rs 103.7 crore in Q2FY25; profit stands at Rs 30.4 crore

MapmyIndia (C.E. Info Systems Ltd.), a leader in digital maps and advanced technology products in India, posted solid growth in its financial performance for the second quarter of fiscal year 2025 (Q2 FY25).

The company reported a revenue from operations of Rs 104 crore, reflecting a 14% increase compared to Rs 91.1 crore in Q2 FY24. Total income for the quarter stood at Rs 113.6 crore, up 14.63% from Rs 99.1 crore in the previous year.

However, EBITDA for Q2 FY25 decreased by 7.49% to Rs 37.5 crore from Rs 40.5 crore in Q2 FY24, bringing the EBITDA margin down to 36.1% from 44.5%.

First half FY25 performance overview

MapmyIndia’s revenue for the first half of FY25 (H1 FY25) grew to Rs 205 crore, marking a 13.7% increase from Rs 181 crore in H1 FY24.

The company’s EBITDA for H1 FY25 was Rs 80 crore, yielding a margin of 39.1%, slightly below the 43.2% margin reported in H1 FY24.

Profit After Tax (PAT) in H1 FY25 rose to Rs 66 crore, showing a modest increase from Rs 65 crore in the same period of the previous fiscal year.

The PAT margin, however, declined to 29.4% from 33.1% due to increased investments in consumer business expansion.

Rakesh Verma, Chairman & Managing Director of MapmyIndia, emphasized the company’s strategic growth plan, stating, "We are on track for achieving our long-term goals of FY27-28."

New joint venture in Southeast Asia

MapmyIndia has taken a significant step toward international expansion by establishing a joint venture (JV) with Hyundai Autoever, a wholly owned subsidiary of Hyundai Motor Company.

The JV, named PT Terra Link Technologies, is based in Indonesia and will focus on providing advanced map-based solutions for automotive manufacturers and other sectors in Southeast Asia.

MapmyIndia holds a 40% stake in this venture, committing a $4 million capital investment. Revenue from this venture is expected to start contributing from FY26, with multimillion-dollar potential over the next five years.

Rakesh Verma noted, “The joint venture will benefit our current customers and expand our international reach.”

Sector-wide growth and strategic investments

MapmyIndia has focused on diversifying its product offerings and broadening its market reach.

In H1 FY25, revenue from the Automotive & Mobility Tech (A&M) segment saw a notable 19.3% year-over-year (YoY) increase, reaching Rs 60.9 crore in Q2 FY25, up 27% YoY.

Revenue from Consumer Tech & Enterprise Digital Transformation (C&E) grew by 8.2% YoY for H1 FY25, maintaining stability at Rs 42.7 crore for Q2 FY25.

The decrease in overall EBITDA margin was linked to ongoing investments in consumer-focused products, which have been recognized as expenses over the last four quarters.

Despite this, the company's IoT-driven EBITDA margin showed significant improvement, rising from 7% to 14% YoY.

The Mappls App has also witnessed substantial growth, with downloads surging from 10 million in H1 FY24 to 25 million in H1 FY25.

COO Sapna Ahuja highlighted that while the company faced market challenges in Q2 FY25, it managed to maintain a steady performance due to strong teamwork and fulfillment of open orders.

“We successfully acquired new customers and strengthened our relationships with existing clients through upselling and cross-selling, which has led to significant wins across sectors such as automotive, fleet management, startups, corporations, government, and defense,” Ahuja stated.

MapmyIndia’s diversified technology solutions, including ADAS, EV mobility tech, video telematics, APIs, SDKs, and 3D digital twin mapping, have seen increased adoption across various industries, contributing to the company's resilient growth trajectory.