New Delhi, Jan 16 – Leading advanced digital maps provider MapmyIndia on Tuesday said it had crossed Rs 100 crore in quarterly total income in the third quarter of current fiscal year (FY24).
Revenue grew 36 per cent (year-on-year) to Rs 92 crore and year-to-date (YTD) EBITDA margins stayed strong at 43 per cent with 38 per cent YoY growth, the company said in statement. The Q3 total income was Rs 103.6 crore.
“Not just are we happy with the growth of our core B2B and B2B2C business, we are also pleased to see our consumer business take shape with increased brand awareness & product uptake,” said Rakesh Verma, Chairman and Managing Director, MapmyIndia.
Rohan Verma, CEO & Executive Director, MapmyIndia, said that they have a strong order book build up based on very large new wins and look forward to sharing developments shortly.
“We started a strong 360-degree marketing push for our consumer business, which was highly effective, yet cost-efficient in increasing Mappls MapmyIndia brand awareness and product traction,” said Rohan.
“We’re happy to see the start of ad-revenue monetisation of our app and sales growth of our gadgets,” he added.
The company offers proprietary digital maps as a service, software as a service, and platform as a service, including its advanced digital map data, software products, platforms, application programming interfaces, and more.
The company has served more than 2,000 enterprise customers since inception.
It is also building digital maps for other regions in the world, and has integrated global maps for over 200 countries into its Mappls platform.
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