Mumbai, Aug 7 (IANS) CE Info Systems, the parent company of digital mapping and location technology firm MapMyIndia, on Thursday reported a 6.5 per cent drop in net profit quarter-on-quarter (QoQ) for the first quarter (Q1) of FY26.
The company’s net profit declined to Rs 45.81 crore in Q1 FY26, down from Rs 49.02 crore in Q4 FY25, according to its stock exchange filing.
MapMyIndia’s revenue from operations also slipped 15 per cent on a sequential basis, falling to Rs 122 crore in Q1 from Rs 144 crore in the previous quarter.
However, compared to the same period previous year, the company showed a 21 per cent growth in revenue, which stood at Rs 101 crore in Q1 FY25.
Most of MapMyIndia’s income came from its core digital mapping and GPS services business, which includes digital map data, location-based services, and Internet of Things (IoT) solutions.
This segment contributed 93 per cent of the company’s revenue and grew 23 per cent year-on-year to Rs 114 crore.
Meanwhile, device sales brought in Rs 8 crore during the quarter, the company said in its regulatory filing.
The company’s total costs rose to Rs 73 crore in Q1 FY26, compared to Rs 64 crore in the same quarter previous year.
Increased spending on IoT hardware, employee benefits, and outsourced technical services contributed to the higher cost base.
Despite the dip in profit and revenue on a quarterly basis, MapMyIndia’s earnings before interest, tax, depreciation, and amortisation (EBITDA) for the quarter stood strong at Rs 68 crore.
During the quarter, the company also made key investments to strengthen its long-term growth.
It invested Rs 25 crore to increase its stake in its IoT subsidiary Gtropy Systems from 75.98 per cent to 96 per cent — reaffirming its focus on fleet management and telematics.
Another Rs 25 crore was invested in Zepto, giving MapMyIndia a 0.049 per cent stake in the fast-growing quick commerce startup.
At market close on Thursday, MapMyIndia’s stock was priced at Rs 1,759.9 per share, with a total market capitalisation of Rs 10,040 crore, or approximately $1.09 billion.
–IANS
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