The company which listed on bourses in 2021, added that through an exchange filing that its board approved a final dividend of Rs 3 per share, 150 percent of the face value of the equity share is Rs 2.
Geotech startup MapmyIndia has clocked a consolidated profit of Rs 107.53 crore in FY23, almost a 23 percent jump from Rs 87.7 crore the fiscal year before. The geospatial deep tech platform which announced its results for the financial year ending March 2023, claimed that revenue from operation was up by almost 40 percent to Rs 281.46 crore. The firm’s total income increased 30.5 percent on a yearly basis to Rs 315.78 crore in FY23 compared to nearly Rs 242 crore in FY22.
MapmyIndia’s expenses shot up to Rs 176.24 crore in FY23 compared with Rs 124.66 in FY22. Of this, employee benefit expenses accounted for the most significant chunk of expenditure at Rs 66.19 crore in FY23, a 15 percent surge from Rs 57.53 crore reported in the previous financial year. The firm also spent Rs 8.45 crore on marketing and promotional activities, while Rs 48.15 crore went towards expenses related to ‘total cost of material.’
Meanwhile, other expenses for the startup shot up 26 percent on a yearly basis to Rs 25.60 crore in the period compared to Rs 20.17 crore clocked in FY22.
Also Read: Curefoods founder keen on developing a major F&B enterprise, prioritises offline footprint
“Revenue from the IoT-led business grew 140 percent YoY, with the EBITDA margins growing from one percent in the nine months of the financial year, to about four percent in Q4 FY23, as SaaS income increased. The IoT-led business is exciting because, while we sold 1.9+ lakh IoT devices in FY23, 3x what we did in FY22, the potentially addressable market is 20 crore vehicles, showing the large headroom there is potential to be tapped for MapmyIndia's IoTled hardware and SaaS business,” said Rakesh Verma, Chairman and Managing Director, MapmyIndia.
The company which listed on bourses in 2021, added that through an exchange filing that its board approved a final dividend of Rs 3 per share, 150 percent of the face value of the equity share is Rs 2.
MapmyIndia which offers digital maps, geospatial software, and location-based IoT technologies serving B2B and B2B2C enterprise customers, claims to have mapped 63 Lakh kilometres of roads across 7,900 towns in India and 1.45 crore houses and buildings across the globe. It counts PhonePe, Airtel, HDFC Bank, Morris Garages and Flipkart as its clients.
“We acquired 250+ new B2B and B2B2C customers — including many businesses and enterprises across industry verticals, new-age consumer-tech companies and key government organisations — raising our base to 850+ customers for our MaaS, SaaS and PaaS offerings, giving us a great platform to up-sell and cross-sell our wide variety of offerings and use-cases to existing and new customers,” said Rohan Verma, CEO and Executive Director, MapmyIndia.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!