MapmyIndia's Q4 net profit rises 35% to Rs 38 crore
CE Info systems, which owns the digital map services platform MapmyIndia, has reported a 35% surge in its consolidated net profit to Rs 38.2 crore in the March quarter of FY24, up from Rs 28.3 crore a year ago.
Lok Sabha Voting Phase 4: All the latest news
The company’s consolidated operating revenue also witnessed a 47% increase to Rs 106.9 crore during the same period. On an annual basis, the operating revenue increased by 35% to Rs 379.4 crore in FY24 from Rs 281.5 crore in FY23.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitMITMIT Technology Leadership and InnovationVisitThe board has approved a dividend of Rs 3.5 per equity share.
For FY24, the firm’s total net profit grew by about 25% to Rs 134.4 crore as against Rs 107.5 crore in the previous year.
“Our overall revenue growth of 35% to Rs 379 crore during FY2024 was broad-based with consumer tech & enterprise digital transformation revenue up 49% year-on-year (YoY) to Rs 194 crore, and automotive & mobility tech revenue up 23% to Rs 186 crore on the markets side. On the products side, our map & data revenue grew 23% to Rs 138 crore and platform & IoT revenue grew 42% to Rs 241 crore,” Rohan Verma, CEO and executive director, MapmyIndia said.
Further, CE Info Systems also saw a 63% increase in annual new order bookings to Rs 834 crore in FY24 and achieved earnings before
