C.E. Info Systems Ltd (NSE: MAPMYINDIA): Q3FY23 Results Out; Total Income rise 50% YoY

C.E. Info Systems Ltd (NSE:MAPMYINDIA) is an Indian company that provides information and communication technology (ICT) solutions and services to the transportation industry. The company was founded in 1992 and is headquartered in New Delhi, India. C.E. Info Systems Ltd’s main product is the Cleartrip platform, which is an online travel booking portal for flights, hotels, and other travel-related services. The company also provides software solutions for transportation management, such as electronic toll collection systems, traffic management systems, and public transportation information systems.

C.E. Info Systems Ltd is a company that focuses on IoT-led products and business, with a high growth in its IoT business. In Q3 FY23, the company delivered another strong performance with quarterly revenue up by 56% YoY to Rs 68 Cr, EBITDA up by 67% to Rs 28 Cr, PAT up by 61% to Rs 30 Cr, with EBITDA and PAT margins expanding on a QoQ and YoY basis. Year-to-date YoY Revenue is up by 46%, EBITDA is up by 41%, and PAT is up by 22%, while EBITDA margin is at 42.3% and PAT margin is at 33.9%. The growth in revenue was broad-based, with A&M revenue up 45% YoY, C&E revenue up 76%, Map & Data up 78%, and Platform & IoT up 51%.

Rohan Verma, CEO & ED, said ” As part of financial discipline, we calibrated marketing expenses down during the quarter, aiding in the company’s profitability, successfully leveraging previous quarters’ marketing expenditure to generate revenue and order book growth. We’re excited by customer wins for our various products and solutions across industry verticals for many existing and newer use cases. Good prospects lie ahead for our B2C business, based on recent pro-competition actions by CCI and Supreme Court, which opens up the market for our Mappls app.”

C.E. Info Systems Ltd has delivered strong financial results in Q3 FY23 and 9M FY23 with revenue growth across all segments, broad-based revenue growth, and healthy margins. The company has been successful in balancing growth and profitability while investing in the future. The management’s focus on continuing the growth trajectory in revenues YoY, while optimizing and calibrating expenses, has been effective. Overall, C.E. Info Systems Ltd seems to be on a strong trajectory with good prospects for the future.