MapMyIndia Shares Surge 10% As Q4 Profit Jumps 36% To ₹38 Cr
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Shares of MapMyIndia that were trading in the red on Monday shot up sharply as the company posted its earnings for the quarter ended March.

What Happened: The company’s revenue for the quarter ended March came in at ₹106.90 crore, up 46% from the ₹72.47 crore posted in the same quarter last year. Net profit for the quarter was at ₹37.94 crore, up 36% from the ₹28.32 crore posted in the same quarter last year.

EBITDA for the quarter was at ₹39.5 crore up 36% from the year-ago period’s ₹29 crore. The company also announced a ₹3.5/share dividend.

See Also: Zomato Q4 Results: Net Profit Up 27% At ₹175 Cr, Revenue At ₹3,562 Cr—Shares Down

The Open Order Book has surged by 49% to ₹1,364 crore, driven by₹ 825 crore of Annual New Order Bookings in FY24. This growth is attributed to momentum across both the A&M and C&E market segments. The company said that the growth is fueled by the sustained adoption and expansion of use cases, as well as efforts in up-selling and cross-selling to both new and existing customers.

Shares of the company that were trailing in the red surged up sharply as soon as the results came out. The Mark Mobius-backed stock went up 10% to hit an intraday high of ₹1,975. Mobius Capital Partners LLP holds a 0.74% stake in MapmyIndia. 

Price Action: MapmyIndia's share price was up 6.21% to close at ₹1,915 on Monday.

Read Next: India VIX Breaches 20 Mark, Highest Level Since Sept 2022: What Does It Mean For The Markets?

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EarningsEquitiesNewsMarketsMoversTrading IdeasMapMyIndia