On a sequential basis, the company’s profit rose a mere 1.3% from ₹18.5 Cr in the September quarter
The company’s bottom line took a hit as operating revenue tanked 18.2% to ₹93.7 Cr during the quarter under review from ₹114.5 Cr in Q3 FY25
Including other income of INR 10.5 Cr, the listed company’s total income for the quarter under review stood at ₹104.2 Cr
Listed geotech major MapmyIndia’s net profit plunged nearly 42% to ₹18.8 Cr in Q3 FY26 from ₹32.3 Cr in the year-ago quarter. On a sequential basis, the company’s profit rose a mere 1.3% from ₹18.5 Cr in the September quarter.
The company’s bottom line took a hit as operating revenue tanked 18.2% to ₹93.7 Cr during the quarter under review from ₹114.5 Cr in Q3 FY25. Sequentially, too, the number fell 17.7% from ₹113.8 Cr in the preceding quarter.
Including other income of ₹10.5 Cr, the listed company’s total income for the quarter under review stood at ₹104.2 Cr.
The company attributed the narrowing profits and declining revenues to a seasonally weak Q3. Partly to blame for the tanking bottom line was also the worsening margins.
While EBITDA declined 35.8% to ₹26.8 Cr in Q3 FY26 as against ₹41.7 Cr in the year ago quarter, EBITDA margins contracted to 28.6% from 36.4% in Q2 FY25.
“From a financial perspective the quarter has been weak and this is due to the seasonality… There has (have) been major wins in all the sector(s) of our business and similarly several project implementation (are) in under pipeline and we see getting them completed in Q4 FY26. We still believe our guidance of 35% EBITDA margin will hold on a full year basis. The revenue growth will be stronger in Q4FY26 as compared to Q4FY25,” said MapmyIndia cofounder and group chairman Rakesh Verma.
In a filing with the exchanges, the geotech company also said that its board approved a proposal to acquire a 20% stake in mapping company Prashant Advanced Survey LLP for a sum of INR 2 Cr.
“The proposed investment is part of the company’s initiatives to build next-gen HD maps for the entire country,” said MapmyIndia in a statement.
Founded in 1995 by the husband-wife duo of Rakesh and Rashmi Verma, MapmyIndia makes detailed digital maps and location-based tools. The company also creates special software and services to help businesses and government departments better understand and manage places, vehicles, and assets.
It caters to automotive players as well as Indian government departments such as the Indian Army. It also operates a consumer-facing navigation app called Mappls.
Zooming Into MapmyIndia’s Expenses
Meanwhile, the geotech giant’s expenses declined 6% to ₹75 Cr in Q3 FY26 from ₹79.4 Cr in the year ago quarter.
Employee Benefits Expenses: This was the biggest cost head for the company. The company spent ₹23.7 Cr towards employee-related expenditure, up 13% from ₹20.9 Cr in Q3 FY25.
Technical Services Outsource: The geotech major spent ₹12.2 Cr under this bucket in Q3 FY26, down 37.9% from ₹19.6 Cr in the year ago quarter.
Cost Of Materials Consumed: Expenses under this bucket soared 58.3% to ₹8.3 Cr in the quarter under review as against a mere ₹5.3 Cr in Q3 FY25.
Other Expenses: The company had to shell out ₹7.7 Cr under this cost head in Q3, up 41% from ₹5.5 Cr in the year ago quarter.
Shares of MapmyIndia closed Friday’s trading session 3.87% lower at ₹1,234.9 on the BSE.
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