MapMyIndia net profit up 18% at Rs 24 crore in April-June quarter

Digital map company CE Info Systems, which operates under MapMyIndia brand name, on Friday posted nearly 18 per cent increase in its consolidated profit at Rs 24.2 crore in the April-June quarter of FY23.

The company had recorded a profit of Rs 20.6 crore in the same period a year ago.

The revenue from operations of MapMyIndia grew by about 50 per cent to Rs 65 crore during the reported quarter from Rs 43.35 crore in the June 2021 quarter.

MapMyIndia chairman and managing director Rakesh Verma in a statement said that the company’s first quarter of financial year (FY) 2022-23 results demonstrated extremely strong revenue growth of 50 per cent and high profitability margins of 46 per cent EBITDA and 34 per cent profit after tax in the quarter.