CE Info Systems, the parent company of MapmyIndia, on Tuesday reported a 4 per cent rise in consolidated net profit to Rs 32.3 crore for the quarter ended December 2024. Its revenue from operations rose 24.5 per cent year-on-year to Rs 114.5 crore in Q3 FY25. MapmyIndia Chairman and Managing Director Rakesh Verma said: "In Q3 FY25, we successfully operationalised the joint venture with Hyundai Autoever in Indonesia, marking an important step in expanding our global footprint". As part of the company's long-term strategy, both the Mappls App and brand will continue to be an integral part of the organisation, Verma added. In terms of profitability, its EBITDA for Q3 FY25 was about Rs 42 crore compared to Rs 36 crore in Q3 FY24. "We will continue to prioritise the Mappls App as a key strategic asset while we will calibrate the costs associated from Q4 onwards," the company said in its earnings release. In Q3 FY25, Consumer Tech and Enterprise Digital Transformation (C&E) revenue ...
The fall in MapmyIndia share came after the board of the company said that it has scrapped plans to invest in a company being set up by its outgoing CEO after receiving investor feedback
MapmyIndia powers Apple Inc's maps in the country and garners 99 per cent of its revenue from providing map-related services to other businesses
Rohan Verma's departure as CEO to set up a new venture could create a leadership vacuum, according to analysts
In the new company, Rohan will hold a 90 per cent stake while the balance 10 per cent will be with MapmyIndia
The collaboration will enable users to seamlessly book a Zoomcar and plan their trips on the Mappls App