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Internet Software & Services company C.E. Info Systems announced Q3FY24 and 9MFY24 results:
Revenue and Total Income:
- Q3FY24 Revenue: Rs 92.0 crore (36% YoY growth).
- All-time high Q3FY24 Total Income: Rs 103.6 crore (32% YoY growth).
- 9MFY24 Revenue: Rs 272.5 crore (30% YoY growth).
- 9MFY24 Total Income: Rs 298.3 crore (28% YoY growth).
EBITDA Performance:
- Q3FY24 EBITDA: Rs 38.6 crore (38% YoY growth).
- 9MFY24 EBITDA: Rs 116.6 crore (32% YoY growth).
- Consistent 9MFY24 EBITDA Margin: 43%.
Profitability:
- Q3FY24 PAT: Rs 31.1 crore (5% YoY growth).
- 9MFY24 PAT: Rs 96.2 crore (21% YoY growth).
- 9MFY24 PAT Margin: 32%.
Financial Stability:
- Q3FY24 Cash & Cash Equivalents: Rs 516.1 crore (including financial instruments).
- Strong financial position supporting ongoing operations and growth initiatives.
Commenting on the Q3FY24 and 9MFY24 results, Rakesh Verma, Chairman & Managing Director, MapmyIndia, said, “We’re happy that MapmyIndia crossed for the first time a milestone of Rs 100 crore quarterly Total Income, and again achieved all-time high in Revenue in Q3FY24, growing 36% YoY to Rs 92 crore, while YTD Revenue has touched Rs 272.5 crore. EBITDA in Q3FY24 grew 38% to Rs 38.6 crore and YTD grew 32% to Rs 116.6 crore, with an overall YTD EBITDA margin at 43%. YTD Map-led EBITDA margin remains strong at 55.1%. IoT-led EBITDA margin has expanded to 10% in Q3FY24 versus 8.2% in Q2FY24, and in YTD stands at 8.2% expanding 730 bps YoY. YTD PAT is robust at Rs 96.2 crore growing 21% YoY, with PAT margin at 32%. Q4FY24 will be exciting. Not just are we happy with the growth of our core B2B and B2B2C business, we are also pleased to see our consumer business take shape with increased brand awareness & product uptake.”
Rohan Verma, CEO & Executive Director, MapmyIndia, said, “We are excited about Q4FY24, with a strong order book build-up based on very large new wins, and look forward to sharing developments shortly. YTD (9MFY24) Revenue growth was broad-based, with A&M up 19.5% and C&E up 43.1% on the market side, while Map & Data was up 37.6% and Platform & IoT was up 26.5% on the product side. We had multiple wins and go-lives across our Auto OEM NCASE suite with an exciting funnel ahead. We also had multiple wins and go-lives across consumer tech companies & enterprises and in the government based on Map-led & IoT-led digital transformation. We started a strong 360-degree marketing push for our consumer business, which was highly effective, yet cost-efficient in increasing Mappls MapmyIndia brand awareness and product traction. We’re happy to see the start of ad-revenue monetization of the App & sales growth of our Gadgets.”
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