MapMyIndia slips ~9% on weak Q2 performance

11 Nov 2024 , 03:48 PM

MapMyIndia (CE Info Systems) shares plummeted over 8% to ₹1,895 in Monday’s BSE session after the business reported an 8.2% decline in consolidated net profit to ₹30.3 Crore in Q2 FY25, compared to ₹33 Crore in Q2 FY24.

However, its revenue from operations increased 13.8% year on year (YoY) to ₹103.67 Crore in Q2 FY25. Profit before tax was ₹41.06 Crore in the second quarter of FY25, down 8.18% from ₹44.7 Crore in the same quarter the previous year.

EBITDA decreased by 7.49% to ₹37.5 Crore in Q2 FY25, compared to ₹40.5 Crore in the same quarter last year. EBITDA margin fell to 36.1% in Q2 FY25, compared to 44.5% in Q2 FY24.

Sapna Ahuja, COO of MapmyIndia, stated, “The general market we serve had problems in Q2 FY25, but we managed to function pretty well due to our open orders and good collaboration. In H1 FY25, our Automotive & Mobility Tech (A&M) revenue increased by 19.3% year on year, while Consumer Tech & Enterprise Digital Transformation (C&E) revenue increased by 8.2%. In Q2 FY25, A&M revenue climbed by 27% to ₹60.9 Crore year on year, while C&E revenue remained stable at ₹42.7 Crore.

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