MapmyIndia’s Q4 PAT Jumps 35% YoY To INR 38 Cr

SUMMARY

The geotech startup’s profit increased by 35% YoY to INR 38 Cr, from INR 28.3 Cr in Q3 FY24

The startup’s operating revenue increased to INR 106.9 Cr, 47.5% higher than INR 72.4 Cr in Q4 FY23

The startup’s board has announced dividends of INR 3.5 per equity share

Geotech startup MapmyIndia’s consolidated profit after tax (PAT) surged by 35% in the March quarter of FY24 to INR 38.2 Cr, from INR 28.3 Cr it had posted in the same period a year ago.

On a quarterly basis, the startup’s net profit surged by 23.2%, as compared to INR 31.04 Cr it had posted in the December quarter.

On an annual basis, MapmyIndia’s PAT increased by 25% to INR 134.3 Cr, from INR 107.5 Cr in FY23.

The startup’s operating revenue increased to INR 106.9 Cr in Q4 FY24, a 47.5% higher than INR 72.4 Cr in Q4 FY23. On a quarterly basis, its operating revenue increased by 16%, from INR 92 Cr in the previous quarter. On an annual basis, the startup’s operating revenue increased by 35% to INR 379.4 Cr in FY24, from INR 281.4 Cr in FY23.

While the topline increased, so did the startup’s total expenses due to a rise in employee benefit expenses. In Q4 FY24, the startup’s total expenditure stood at INR 72.3 Cr, a 49% higher than INR 48.4 Cr in Q4 FY23. On a quarterly basis, the startup’s expenditure increased by 19% from INR 60.5 Cr.

On an annual basis, MapmyIndia’s total expenditure increased to INR 240.9 Cr in FY24, a 37% higher than INR 176.2 Cr.

Besides disclosing the financials, the startup further announced that the startup’s board has approved the declaration and payment of a final dividend of INR 3.5 per equity share. This is now subject to approval of shareholders in the forthcoming AGM of the startup.

Besides this, the company has also appointed Rashmi Verma, as the whole-time director of the company and Rajagopalan Sundar as non-executive Independent Director.