MapMyIndia Shares Surge 10% As Q4 Profit Jumps 36% To ₹38 Cr

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.

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