CE Infosystems (MapmyIndia) PAT down 14% to Rs18cr

28 Jan 2022 , 10:53 AM

CE Infosystems Ltd., a home-grown digital mapping firm that operates under the name MapMy India, reported its quarterly results on Thursday. The company’s consolidated PAT stood at Rs 18.5 crore for Q3 FY’22 against Rs 21.59 for the previous corresponding quarter, reporting a decline of 14% YoY.

Following the result announcement, its scrip opened lower at Rs 1,290 against its previous closing price of Rs 1,438.35. It was last seen at Rs 1,370, down by Rs 68.35 or 4.75% against its previous closing. It has touched an intraday high of Rs 1,397.80, whilst it touched a 52-week low of Rs 1,267.05 so far in today’s trade.

The company’s consolidated revenue witnessed a downfall of 11% YoY at Rs 43.37 crore for Q3 FY’22 against Rs 61.80 crore for the previous corresponding quarter.

The company’s revenue for the 9M period ending December 2021 stood at Rs 143.40 crore against Rs 105 crore for the same quarter last year, recording a growth of 37% YoY.

It reported PAT for the 9M period ending December 2021 at Rs 65.20 crore against Rs 40.7 crore for the previous corresponding quarter, registering a growth of 60%.

The company’s PAT margin for the quarter expanded to 37% from the previous 30%.

Mapmylndia has built India’s most comprehensive, accurate, feature-rich, and continuously updated digital map data product down to address and urban building-level detail pan India, covering all towns, villages, and the entire road network of the country. The company is building not just 2D maps, but also 3D (with landmarks, terrains, and city models), 4D (updating in near real-time), HD (high-definition and high-accuracy), RealView (photorealistic representing actual ground reality), and hyper-local geo-demographics data-rich maps, to continuously evolve its Al-powered Digital Metaverse Twin of the Real World.