CE Info Systems, the parent company of the popular navigation and location-based services provider MapMyIndia, has recently released its financial results for the third quarter of the fiscal year 2025, showcasing impressive growth and stability in a competitive market.
According to the unaudited consolidated quarterly report sourced from the National Stock Exchange (NSE), MapMyIndia witnessed a remarkable year-on-year revenue growth of over 24% compared to the same quarter in the previous fiscal year. This growth translated into a substantial increase in revenue from operations, with the company’s earnings rising to Rs 114.5 crore in Q3 FY25 from Rs 92 crore in Q3 FY24.
The primary drivers behind MapMyIndia’s revenue surge were its income from digital map data, GPS navigation, location-based services, and Internet of Things (IoT) offerings, which collectively accounted for a significant 90% of the total revenue. Specifically, revenue from these sources saw a notable increase of 32.5% to reach Rs 102.4 crore in Q3 FY25, underscoring the company’s strong position in the market. Additionally, income from the sale of devices contributed Rs 12 crore to the overall revenue stream.
On the cost front, expenses related to IoT devices, employee benefits, and outsourced technical services emerged as the major cost components, driving the total cost of operations for the firm to Rs 79.4 crore in Q3 FY25, up from Rs 60.5 crore in Q3 FY24. Despite these cost escalations, MapMyIndia managed to record a 4.2% increase in its profit, reaching Rs 32.3 crore during the third quarter of the fiscal year 2025, compared to Rs 31 crore in the corresponding period of the previous fiscal year.
In the market, MapMyIndia’s stock is currently trading at Rs 1609 per share, with a market capitalization of an impressive Rs 8,753 crore (equivalent to $1 billion). This valuation reflects the market’s confidence in the company’s growth prospects and strategic positioning in the industry.
In a recent development, MapMyIndia announced that its CEO and whole-time director, Rohan Verma, will be stepping down from his executive role effective March 31, 2025. However, Chairman and Managing Director Rakesh Kumar Verma will continue to lead the company, ensuring a smooth transition and sustained growth trajectory for MapMyIndia.
Overall, MapMyIndia’s robust financial performance in Q3 FY25 underscores its market leadership in the navigation and location-based services sector, setting a solid foundation for future growth and innovation in the dynamic technology landscape.
