Internet Software & Services company C.E. Info Systems announced Q3FY24 and 9MFY24 results: Revenue and Total Income: Q3FY24 Revenue: Rs 92.0 crore (36% YoY growth). All-time high Q3FY24 Total Income: Rs 103.6 crore (32% YoY growth). 9MFY24 Revenue: Rs 272.5 crore (30% YoY growth). 9MFY24 Total Income: Rs 298.3 crore (28% YoY growth). EBITDA Performance: Q3FY24 EBITDA: Rs 38.6 crore (38% YoY growth). 9MFY24 EBITDA: Rs 116.6 crore (32% YoY growth). Consistent 9MFY24 EBITDA Margin: 43%. Profitability: Q3FY24 PAT: Rs 31.1 crore (5% YoY growth). 9MFY24 PAT: Rs 96.2 crore (21% YoY growth). 9MFY24 PAT Margin: 32%. Financial Stability: Q3FY24 Cash & Cash Equivalents: Rs 516.1 crore (including financial instruments). Strong financial position supporting ongoing operations and growth initiatives. Commenting on the Q3FY24 and 9MFY24 results, Rakesh Verma, Chairman & Managing Director, MapmyIndia, said, “We’re happy that MapmyIndia crossed for the first time a milestone of Rs 100 crore+ quarterly Total Income, and again achieved all-time high in Revenue in Q3FY24, growing 36% YoY to Rs 92 crore, while YTD Revenue has touched Rs 272.5 crore. EBITDA in Q3FY24 grew 38% to Rs 38.6 crore and YTD grew 32% to Rs 116.6 crore, with an overall YTD EBITDA margin at 43%. YTD Map-led EBITDA margin remains strong at 55.1%. IoT-led EBITDA margin has expanded to 10% in Q3FY24 versus 8.2% in Q2FY24, and in YTD stands at 8.2% expanding 730 bps YoY. YTD PAT is robust at Rs 96.2 crore growing 21% YoY, with PAT margin at 32%. Q4FY24 will be exciting. 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.” Rohan Verma, CEO & Executive Director, MapmyIndia, said, “We are excited about Q4FY24, with a strong order book build-up based on very large new wins, and look forward to sharing developments shortly. YTD (9MFY24) Revenue growth was broad-based, with A&M; up 19.5% and C&E; up 43.1% on the market side, while Map & Data was up 37.6% and Platform & IoT was up 26.5% on the product side. We had multiple wins and go-lives across our Auto OEM NCASE suite with an exciting funnel ahead. We also had multiple wins and go-lives across consumer tech companies & enterprises and in the government based on Map-led & IoT-led digital transformation. 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. We’re happy to see the start of ad-revenue monetization of the App & sales growth of our Gadgets.” Result PDF
Conference Call with C.E. Info Systems Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Internet software & services company C.E. Info Systems announced Q1FY24 results: Revenue grows 37.5% YoY to Rs 89.4 crore EBITDA grows 25.2% YoY to Rs 37.4 crore EBITDA margin at 41.9% PAT grows 32.2% YoY to Rs 32 crore PAT margin at 32.7% Commenting on the Q1FY24 results, Rakesh Verma, Chairman & Managing Director, MapmyIndia, said, “We are delighted with our Q1FY24 results wherein MapmyIndia achieved all-time highs in Revenue, EBITDA, and PAT. Revenue grew 37.5% in Q1FY24 to Rs 89.4 crore. EBITDA grew 25.2% to Rs 37.4 crore, with an overall EBITDA margin of 41.9%. Map-led business EBITDA margin was strong at 54.1%. IoT-led business EBITDA margin continued to expand quarterly and was at 6.3% in Q1FY24 versus 4.0% in Q4FY23, as SaaS income from IoT grew. Q1FY24 PAT also reached an all-time high of Rs 31.8 crore, growing 31.4% YoY. During Q1FY24, we outlined a 5-year vision of a growth roadmap for the company, and are putting in place the requisite foundations that will drive the long-term success of the company. We are also delighted with the surge in interest and usage of our consumer-facing Mappls MapmyIndia app amongst users, which resulted in the Mappls app becoming the top app in the app store recently. This bodes well for the B2C future of the company, in addition to the B2B and B2B2C where we have been traditionally strong.” Rohan Verma, CEO & Executive Director, MapmyIndia, said, “Our strong Q1 YoY revenue growth was broad-based with A&M; (Automotive & Mobility Tech) up 24% and C&E; (Consumer Tech & Enterprise Digital Transformation) up 51% on the market side. On the products side, Map & Data was up 41% and Platform & IoT was up 35%. We’re happy with the large number of customer go-lives that occurred during Q1FY24 including many consumer technology companies and startups, corporates across industry sectors, automotive OEMs including EVs and 2-Wheelers, and government and logistics/mobility fleets. This bodes well for our future growth. Our B2B and B2B2C product offerings across maps, APIs, IoT, drones, N-CASE automotive suite, enterprise digital transformation, and geospatial platforms continue to expand in capabilities and extend their market leadership. Our consumer-facing Mappls App, with unique features such as 3D Junction Views, end-to-end trip costs including toll and fuel, and useful safety alerts such as speed limits, speed breakers, sharp curves, etc – are getting rave reviews. Similarly, our B2C-focused Mappls Gadgets which enable safety, convenience, and entertainment on the go for vehicle owners, drivers, and passengers are gaining traction too. These are initial steps in our efforts to expand our B2C business going forward.” Result PDF