The largest provider of navigation platforms in India saw its shares rise 6 percent to Rs 2,211 a share as the business reported record-breaking quarterly revenue of 19 percent and net profit of 32 percent.
At 12:55 p.m., On the National stock exchange, CE Info Systems Ltd shares were trading at Rs 2,145 per share, up Rs 62.05 or 2.98 percent from the previous close price. The company has a market capitalization of Rs 11,615 crore.
CE Info Systems Ltd reported a 19 percent increase in revenue year on year, from Rs 83 crore in Q2FY23 to Rs 99 crore in Q2FY24. During the same period, net profit increased by 32 percent from Rs 25 crore to Rs 33 crore.
In comparison to the previous quarter, operational revenue increased by 2 percent from Rs 97 crore in Q1FY24 to Rs 99 crore in Q2FY24, Further net profit has increased by 3 percent from Rs 32 crore to Rs 33 crore. According to the company’s exchange filing.
CE Info Systems Ltd shares have delivered a 97 percent return in the last six months and 67 percent in the last year.
The company’s Open Order Book has grown 31 percent to Rs 918 Crore based on Rs 512 Crore of Annual New Order Bookings in FY23, with momentum across the Automotive & Mobility Tech Consumer Tech, and enterprise Digital Transformation market segments.
The Company added 250+ new customers, expanding the base from 600+ to 850+ customers.
EBITDA margins grew from 1 percent in the first 9 months of FY23, to 4 percent in Q4 FY23, due to an increase in higher-margin SaaS income.
MapmyIndia is India’s largest navigation platform, which supports a wide range of navigation software and hardware platforms.MapmyIndia dominates 95% in-dash navigation market of India.
C.E. Info Systems Ltd is India’s top advanced digital maps and deep-tech firm, also known as MapmyIndia in India and Mappls abroad. MapmyIndia provides navigation, tracking, IoT, analytics, and web mapping services for desktop and mobile devices to companies such as Olx, Flipkart, Uber, Phonepe, and many more..
Written by Omkar Chitnis
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