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MapMyIndia Q2 Results Review – Strong Revenue Growth Offset By Margin Decline: Centrum Broking

by Centrum Broking
November 1, 2022
in Business
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CE Infosystems Ltd. (MapMyIndia) reported robust revenue growth driven by better than expected performance in the automotive and mobility segment.

Revenues were Rs 763.1 million (up 17.4% QoQ, up 34.6% YoY), up 9.6% above our estimates.

Ebitda margins for Q2 FY23 were 39.9% (Q1 FY23: 46.0%) and were impacted by increased investment in the internet of things business of Gtropy along with higher marketing expenses for MapMyIndia and Mappls.

Ex-Gtropy, MapMyindia’s H1 FY23 Ebitda margins were 49.9%.





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Tags: BrokingCentrumdeclineGrowthMapMyIndiaMarginOffsetResultsrevenueReviewstrong
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