Mark Mobius, Tata Fund-Backed Small Cap Stock Jumps 6% After Q2-Print

Shares of MapmyIndia jumped back in the green on Wednesday morning after closing marginally lower on Tuesday.

What Happened: The geotech company posted its earnings for the quarter ended September in the after-market hours on Tuesday. The company’s profit after tax increased by 30.4% to ₹33.1 crore, compared to the ₹25.4 crore booked in the same quarter of the previous year.

MapmyIndia’s revenue from operations grew by 19.4% to ₹91.1 crore in, up from ₹76.3 crore in the corresponding quarter of the previous year. EBITDA for the quarter was at ₹40.5 crore with an EBITDA margin of 44.5%.

See Also: Why This Adani Stock Is Upbeat Even As Profits Dipped 8% In Q2

The company said that it achieved its all-time quarterly highs In revenue, EBITDA and PAT in the quarter ended September.

The company’s Chairman and Managing Director, Rakesh Verma, expressed satisfaction with the growing traction of their B2C Mappls App, which has garnered over 11 million lifetime downloads, including 10 million on Android and more than 1 million on iOS. This indicates positive momentum across their business verticals.

Mark Mobius’ Mobius Capital Partners LLP holds a 0.74% stake in MapmyIndia. Tata Small Cap Funds owns a 1.57% stake in the company.

Price Action: MapmyIndia’s share price was up 4.37% to trade at ₹2,174 in the early hours of trading on Wednesday.

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Posted In: EarningsEquitiesNewsMarketsMoversTrading IdeasMapMyIndiaMark Mobius