However, its revenue from operations jumped 13.8% year on year (YoY) to Rs 103.67 crore in Q2 FY25. Profit before tax stood at Rs 41.06 crore in Q2 FY25, down 8.18% from Rs 44.7 crore recorded in the corresponding quarter previous fiscal.
EBITDA fell by 7.49% to Rs 37.5 crore in Q2 FY25 as compared to Rs 40.5 crore posted in the same quarter last year. EBITDA margin was reduced to 36.1% in Q2 FY25 as against 44.5% in Q2 FY24.
Sapna Ahuja, COO, MapmyIndia, said “The overall market we serve faced challenges in Q2 FY25, but we managed to perform reasonably well thanks to our open orders and strong teamwork. In H1 FY25, our Automotive & Mobility Tech (A&M) revenue rose by 19.3% YoY, while our Consumer Tech & Enterprise Digital Transformation (C&E) revenue grew by 8.2%. Specifically, in Q2 FY25, A&M revenue increased by 27% to Rs 60.9 crore YoY, while C&E revenue remained steady at Rs 42.7 crore.”
Rakesh Verma, Chairman and MD, MapmyIndia, said “MapmyIndia has received official board approval to establish a joint venture with Hyundai Autoever, a wholly owned subsidiary of Hyundai Kia. MapmyIndia will hold a 40% stake with a capital investment of $4 million.”
“The joint venture, named PT Terra Link Technologies, will be based in Indonesia and will concentrate on providing map-based solutions for automotive OEMs and other businesses across Southeast Asia. An estimated Revenue of JV would be to the tune of USD multimillion over the next 5 years with order booking and revenue commencing from FY26 itself. This JV will also benefit current customers of MapmyIndia.”(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
