The shares of this market leader in the location intelligence space, with a market share of 80 percent, declined 1 percent in the day’s trade, following muted results with a decline in net profits by 6.19 percent QoQ.
The shares of CE Info Systems Limited closed at Rs. 2,039 down 1.17 percent from its previous day’s close price of Rs. 2,063.05 and its market capitalization of Rs. 11,053 Crores.
C.E Info Systems Limited also known as Map My India, has declared its quarter-ended December Q3FY24 results as follows
Its revenue from operations grew by 36 percent YoY from Rs. 67.66 Crores in Q3FY23 to Rs. 92.02 Crores in Q3FY24 and it grew 1.03 percent QoQ from Rs. 91.08 Crores in Q2FY24 to Rs. 92.02 Crores in Q3FY24.
Its Net Profit grew by 4.65 percent YoY from Rs. 29.66 Crores in Q3FY23 to Rs. 31.04 Crores in Q3FY24 and it declined 6.19 percent QoQ from Rs. 33.09 Crores in Q2FY24 to Rs. 31.04 Crores in Q3FY24.
CE Infosystems Limited is engaged in the business of developing digital map data, telematics services, location-based SaaS, GIS AI technologies and many more.
Some of the Enterprises powered by Map My India technologies are Hyundai, Yulu, Morris Garages, Flipkart, HDFC Bank, Ola Electric etc.
In FY23, it reported a return on equity (ROE) of 22.4 percent and a return on capital employed (ROCE) of 22.4 percent, it is making good returns on its equity and capital employed.
Its revenue from operations grew by 40.42 percent from Rs. 200.44 Crores in FY22 to Rs. 281.46 Crores in FY23, accompanied by increasing profits of Rs. 87.07 Crores to Rs. 107.53 Crores.
Written by: Bharath K.S
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