However, its revenue from operations in Q2 FY25 rose 13.8% year-on-year (YoY) to Rs. 103.67 crores. Profit before tax in Q2 FY25 was Rs. 41.06 crore, as against Rs. 44.7 crore is 8.18% less.
EBITDA declined by 7.49% in Q2 FY25 to Rs. 37.5 crore, up from Rs. 40.5 crore as compared to Rs. EBITDA margin declined to 36.1% in Q2 FY25 from 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 due to our open orders and strong teamwork. In H1 FY25, our Automotive & Mobility Tech (A&M) revenue grew 19.3% YoY, while our Consumer Tech & Enterprise Digital Transformation (C&E) revenue grew 8.2%. Notably, in Q2 FY25, A&M revenue grew by 27% to Rs 60.9 crore, while C&E revenue remained flat at ₹ 42.7 crore.”
MapmyIndia Chairman and MD Rakesh Verma said “MapmyIndia has received official board approval to set up a joint venture with Hyundai Autoever, a wholly owned subsidiary of Hyundai Kia. MapmyIndia will hold 40% stake with capital investment of $4 million.”
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“The joint venture PT Terra Link Technologies will be based in Indonesia and will focus on providing map-based solutions to automotive OEMs and other businesses across Southeast Asia. The estimated revenue of the JV will be USD multimillion. With order bookings and revenues from FY26 onwards, the next 5 This JV will also benefit MapmyIndia’s existing customers.”
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