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MapmyIndia Reports 34.6 Per Cent Growth In Q2 Revenues

The firm is now expecting to accelerate its earnings in the coming years as the company grabbed three new investments in the September quarter

MapmyIndia Reports 34.6 Per Cent Growth In Q2 Revenues
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POSTED ON November 14, 2022 4:21 PM

Announcing its results for the second quarter of FY 2022-23, deeptech start-up MapmyIndia has achieved 34.6 per cent growth in its operational revenue at Rs 76.30 crore, as compared to Rs 56.7 crore in the same quarter last year. The EBIDTA of the firm also rose in the second quarter of FY 2022-23. Compared to Rs 26.1 crore in the second quarter last year, the firm has achieved Rs 30.2 crore in the correspondent quarter this year. It recorded a growth of 17.2 per cent in EBIDTA 

The firm also reported a net profit of Rs 25.40 crore for Q2 in FY 2022-2023, the same as the year-ago quarter. which suggests a nil year-on-year (YoY) growth for the company.

“In Q2 FY23, MapmyIndia delivered another strong performance, with quarterly revenue up 35 per cent year-on-year to an all-time high of Rs 76 crore,” Chief Managing Director (CMD)  Rakesh Verma said in a statement. 

The firm is now expecting to accelerate its earnings in the coming years as the company grabbed three new investments in the September quarter. The company is also planning to scale up its newly acquired IoT-led firm Gtropy. 

In recent times, MapmyIndia also joined hands with the Aravind Kejriwal-led Delhi Government in order to build up a web application to ensure effective sighting of electric vehicle (EV) charging stations. This web application will work as a decision-making tool for the users in the country. 

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