MapmyIndia reports 18pc profit growth in Q4 2022

Digital Mapping Company CE information systems– better known asMapmyIndia— announced an 18% increase in its consolidated profits for the fourth quarter of the previous fiscal year.

The Delhi-based Unicorn, which powers Apple Inc’s cards in India, has reported a profit of Rs 23 crore in the fourth quarter of fiscal 2022, it said in a statement. During the past financial year, the company recorded a profit of Rs 87 billion— up 45% over the previous year.

The company’s stock price fell 0.75 percent Monday on BSE, following a 0.07% decrease at Sensex.

“We ended fiscal 2022 with good revenue and earnings growth, and healthy margins that grew further,” said Rakesh VermaChairman and Managing Director of MapmyIndia.

The MapmyIndia team

He reported a revenue of Rs 200 crore from operations in fiscal year 2022 – growth of 31 percent over the same period last year. The Company’s revenue in the fourth quarter was Rs 57 billion— up 20% compared to the fourth quarter of fiscal 2021.

“Customer win momentum continued across all of our customer segments – automotive OEMs (original equipment manufacturers), enterprise and government – ​​resulting in total annual new order bookings of Rs 523 crore over the course of the year. 2022,” said Rohan Verma, CEO and Executive Director, MapmyIndia.

He further added that the company ended the 2022 financial year with an opening order book of Rs 699 crorerising from Rs 377 crore at the end of financial year 2021.

“We continue to relentlessly innovate our mapping and technology data products and platforms, which will further strengthen our leadership position in digital mapping, automotive technologies, geospatial and IoT (Internet of Things )”, he added.

MapmyIndia had made a stellar public debut on the stock exchange in December 2021, with an initial public offering of Rs 1,040 crore.